State Street’s $885 Million Tax Refund Sparks Boston Protest

An expected $885 million tax refund for State Street Corp., the third-largest custody bank, helped spark a protest against big banks in downtown Boston that drew about 400 people yesterday.

“Corporations like State Street paying zip despite $1.56 billion in profit is beyond an outrage,” Rich Rogers, executive secretary of the Greater Boston Labor Council, said in an e-mailed statement before the demonstration. “It’s exactly the kind of corporate greed that is bleeding our communities dry.”