Regulators are taking a close look at the structure of charitable foundations set up in connection with initial public offerings by thrifts.

The foundations are ostensibly a way to assure that local communities receive some of the benefits as the depositor-owned companies are taken public. But some critics are saying the foundations could be a sly way for management to retain control.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.