Click here to advertise on CatholicCulture.org

New Vatican bank president within days?

Catholic World News - February 13, 2013

The Vatican bank, the Institute for Religious Works (IOR), will have a new president within a few days, according to the director of the Vatican press office.

Father Federico Lombardi said that the search for a new head of the IOR will not be slowed by the news that Pope Benedict XVI is resigning effective February 28. The bank’s board has been conducting the search for a new president since Ettore Gotti Tedeschi was forced out last May, and the process is nearing completion, he said.

The IOR has been troubled by scandal in the past, and more recently by complaints from Italian banking officials that the Vatican institution has been lax in enforcing rules to prevent money-laundering. While the IOR has worked diligently in the past year to put new transparent procedures into effect, there have been reports of conflicts among the IOR board members over the extent to which the Vatican should submit to international oversight.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Progress toward our July expenses ($17,976 to go):
$35,000.00 $17,024.29
51% 49%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

New HHS Mandate must truly eliminate complicity 21 hours ago
Self-Esteem: Beyond Pop Psychology July 23
Government Crackdowns on God and Nature July 22
A legislative mockery: Massachusetts lawmakers rush to replace unconstitutional 'buffer zone' bill July 22
Gay and Transgendered: What Comes Next? July 22

Top Catholic News

Most Important Stories of the Last 30 Days
Vatican issues working document for Synod of Bishops on the family CWN - June 26
New management, new changes coming for reformed Vatican bank CWN - July 8
Sweeping reforms to Vatican's media, financial operations CWN - July 9
‘Even Genghis Khan didn’t do this’: Mosul emptied of Christians CWN - July 21