facebook
twitter
rss
account
search
search
 

Pope sets up panel to consider reforms to Vatican bank

June 26, 2013 at 4:38 PM   |   Comments

VATICAN CITY, June 26 (UPI) -- Pope Francis set up a panel to consider reforms to the Institute for Religious works, popularly known as the Vatican Bank, officials said Wednesday.

The papal commission has five members, including two from the United States, Vatican Radio reported. They are Mary Ann Glendon, a professor at Harvard Law School, and Monsignor Peter Bryan Wells, a member of the Vatican Secretariat of State.

The bank, usually referred to in Italy by its Italian acronym, IOR, became embroiled in scandal after Michele Sindona became an adviser in the 1990s. Sindona allegedly used the bank and another institution, Banco Ambrosiano, in which the Vatican bank had a majority interest, to launder the profits from heroin trafficking by the Gambino crime family.

The Rev. Federico Lombardi, the Vatican press officer, said the panel will present the pope with recommendations for reforms to the bank. He told reporters the commission is temporary and will be dissolved once it makes its findings.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
Merkel urges Putin to withdraw Russian troops from Ukraine Merkel urges Putin to withdraw Russian troops from Ukraine
2
Shark attacks surfer at Santa Cruz beach Shark attacks surfer at Santa Cruz beach
3
Lindsey Graham fears ISIS will come kill us all, in a not at all hysterical way Lindsey Graham fears ISIS will come kill us all, in a not at all hysterical way
4
Rush Limbaugh: Women actually are consenting when they say 'no' Rush Limbaugh: Women actually are consenting when they say 'no'
5
Census: number of Americans living in poverty down, still above 45 million Census: number of Americans living in poverty down, still above 45 million
Trending News
Video
x
Feedback