"Financial Crisis Looms Over New York's Catholic Church: Archbishop Issues Dire Warning to Priests. The Archdiocese of New York is facing a looming financial crisis, with Archbishop Timothy Dolan warning priests that the church may be forced into bankruptcy unless hundreds of millions of dollars are raised to compensate sex abuse victims. The warning comes as the church continues to grapple with the fallout from decades of sex abuse scandals, with many survivors seeking justice and compensation for the harm they suffered. With the clock ticking, the Archdiocese is scrambling to raise funds to meet the mounting costs, a task that will require a massive effort to avoid a potentially catastrophic financial collapse."
Archdiocese of NY warns priests of bankruptcy — unless hundreds of millions are raised to pay sex abuse victims New York Post
