NCUA Inspector General Throws Around Blame in Failure of Southwest Corporate

Lax management plus bad investments equaled a $141 million loss for a conserved and now-merged Southwest Corporate.

By Robert McGarvey | September 28, 2011 at 11:05 AM

Lax management plus bad investments equaled a $141 million loss.

That in a nutshell is the conclusion of the NCUA Inspector General in its report on the failure of Plano, Texas-based Southwest Corporate.

That conserved corporate later merged with Georgia Corporate to create Catalyst.

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