Does anyone know if it is true that JPMorgan Chase Closes Vatican Bank Account?
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Answer:
Yes. "VATICAN CITY/MILAN, March 19 (Reuters) - JP Morgan Chase is closing the Vatican bank's account with an Italian branch of the U.S. banking giant because of concerns about a lack of transparency at the Holy See's financial institution, Italian newspapers reported. The move is a blow to the Vatican's drive to have its bank included in Europe's "white list" of states that comply with international standards against tax fraud and money-laundering." Source and further information: http://www.huffingtonpost.com/2012/03/19/vatican-bank-image-hurt-closed_n_1363432.html Further information: http://ncronline.org/blogs/ncr-today/jp-morgan-chase-closes-vatican-bank-account
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