Vatican bank shut down: Obama's State Department accuses "financial crimes"

The Blaze: JPMorgan Chase Closes Vatican Bank Account:

Perhaps JPMorgan chose to close the account after the U.S. State Department decided to include the Vatican on its “financial crimes” list.

“For the first time, the Vatican has found itself on the U.S. State Department’s list of potential money-launderers,” The Blaze’s Billy Hallowell reported last week.

“According to the State Department, the Vatican made the list because it is considered vulnerable to laundering and because it had recently put a program into place to prevent financial abuses,” he added.

But much like JPMorgan’s decision to close the Milan account, some found the timing of the State Department’s inclusion of the Vatican on its “financial crimes” list a little odd: “Clearly, there are issues of concern, but the Catholic Church is taking measures to address these elements.”

Were either of these decisions aimed at the Holy See’s finances really necessary?

Considering the fact that the Catholic Church is currently engaged in a culture war with the Obama administration (and the world at large), a few critics believe we are witnessing much more than a mere pursuit of “financial transparency.”

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