The Medici bank was founded in 1397 by Giovanni di Bicci. His contacts in Rome enabled the Medici to be appointed as bankers for the papacy in 1422. The family's wealth and prestige allowed Giovanni's son Cosimo to dominate the political, social and cultural life of Florence.
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Citation: Editors, Litencyc. "Pope employs the Medici as his bankers". The Literary Encyclopedia. First published 01 March 2010 [https://www.litencyc.com/php/stopics.php?rec=true&UID=9634, accessed 06 May 2024.]
