News Summary: Pope names Vatican bank commission

TAKING ACTION: Pope Francis took a key step Wednesday toward reforming the troubled Vatican bank, naming a five-person commission of inquiry to look into its activities amid a new money-laundering probe and continued questions about the very nature of the secretive financial institution.

WHAT ELSE: Last year there were revelations in leaked documents that told of dysfunction, petty turf wars and allegations of corruption in the Holy See's governance.

CHANGE AT THE TOP: Francis, who has made clear he has no patience for corruption and wants a "poor" church, has already named a separate commission of cardinals to advise him on the broader question of reforming the Vatican bureaucracy.