By Phil Lawler, Catholic Culture - If you’re not a financial whiz, it can be difficult to follow the details of the Vatican financial scandals. Let me try to make it simple (since I’m not a financial whiz either), and see if you notice the single thread that runs all through the complex history... First the Vatican bank, the IOR, came under fire, with European banking regulators charging that it was open to money-laundering. Vatican officials resisted, but when European banks began cutting off banking privileges, the IOR had no choice, and began a painful process of internal reforms. The IOR has now won a clean bill of health from the regulators.