World News

Vatican Bank Officials Resign

The director of the troubled Vatican bank and his deputy resigned Monday, following the recent arrest of a senior cleric with close connections to the bank who is accused of trying to smuggle millions of dollars into Italy.

A statement from the bank says Paolo Cipriani and his deputy quit "in the best interests of the institute and the Holy See." The bank is called the Institute for the Works of Religion.

Last week, Monsignor Nunzio Scarano, a Vatican accountant, was arrested in a broadening corruption investigation by authorities in Rome.

Earlier, Pope Francis named a new commission to oversee the operations of the bank.

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