VATICAN CITY (AP) — Pope Leo XIV has begun correcting some of Pope Francis’ more questionable financial reforms and decisions, canceling a law Monday that had concentrated financial power in the Vatican bank.

Leo completely abrogated the 2022 law that had decreed that management of the Holy See’s assets was the “exclusive responsibility” of the Institute of Religious Works, or IOR.

The new law says the Holy See generally does use the IOR, but can turn to non-Vatican banks in other countries if the Vatican’s investment committee “deems it more efficient or convenient” to do so.

The law was the clearest sign yet that Leo is starting to correct some of Francis’ more problematic decisions and is recalibrating the powers in the Vatican, after Francis tended to lean heavily on the advice of t

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