About 200 people, most of them UCLA students, marched from Bruin Plaza at UCLA to nearby Bank of America.
Then, protesters formed a circle in the middle of the intersection at Westwood and Wilshire Boulevards, shutting down both streets for more than an hour.
They refused to leave, and police arrested 11 of them for unlawful assembly.
The protest was part of statewide rallies at California college campuses. Protesters want banks to sign the Refund California Pledge to make Wall Street pay for public education.