The Commission of Cardinals which oversees the activities of the Vatican's bank, formally called the Institute for the Works of Religion (IOR), has renewed the membership of the institute’s board and made a few new appointments. Among the new appointees is the head of the Knights of Columbus Carl A. Anderson.
The IOR is a financial institution governed by a Board of Superintendence, which is, in turn, regulated by a Commission of Cardinals led by Tarcisio Bertone, the Vatican Secretary of State. The main function of the institute is to manage bank accounts for religious orders and Catholic associations.
The Supreme Knight’s appointment to the IOR is the latest of his Vatican appointments, which include being appointed a member of the Pontifical Council for the Laity, as well as to the Pontifical Council for the Family. In 2007, Pope Benedict XVI appointed him as a consultor to the Pontifical Council for Social Communications.
Mr. Anderson currently serves on the Board of Trustees of The Catholic University of America and the Basilica of the National Shrine of the Immaculate Conception. He is also a member of the bar of the District of Columbia and is admitted to practice law before the U.S. Supreme Court.
He will be serving the IOR alongside newly appointed President of the Board Ettore Gotti Tedeschi, an Italian banking magnate, and vice president Ronaldo Hermann Schmitz of Germany.