Few Catholics objected last year when our new pope cranked up the engine of financial reform within the Vatican as one of his first orders of business.
To the applause of worldwide audiences, nearly 900 account holders were thrown out of the Vatican bank as financial investigators, deputized by Pope Francis, placed the bank's past practices under closer scrutiny. Equipped with a sweeping papal mandate, the pope's agents audited and restated the bank's financial position, adopted European standards to prevent money laundering, and ushered in new leadership.
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