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Pope Francis to Reform Vatican’s Scandal-Plagued Bank

Newly appointed Pope Francis, who has already surprised Vatican officials with his own financial humility (he’s decided to live in a small guest house instead of a palace, and insisted on paying for a recent hotel stay with his own money), now reportedly intends to end corruption at the Vatican’s bank. The bank (known as the Institute for Works of Religion or IOR), has long faced accusations of improper financial practices. Last year, the Vatican’s administrative body, the Curia, also came under fire after leaked documents exposed more financial scandals and called into question how the IOR was run. Pope Francis has said the church must be run honestly, and his review of the bank could reform it or even close it permanently …

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