Vikram Pandit to help others avoid bank fees

Vikram Pandit Pic

Vikram Pandit knows a thing or two about fees - he ran a hedge fund and led Citigroup as the world’s biggest credit card lender. Now he’s switched sides and wants to help people avoid them.

Bloomberg News reports that three years after Pandit was ousted as chief executive officer of Citigroup, he’s back as an investor with a venture called FeeX Inc. With the stake, announced Tuesday, Pandit will help the startup expose the kinds of “hidden” fees big financial institutions charge for everything from credit cards to life insurance and retirement accounts.

'It’s sort of saying, ‘Gee I found out about all those fees that Citigroup charges to take advantage of their customers, and now I’m helping this company tell customers how to avoid all those fees', said Art Wilmarth, a George Washington University law professor.

To access the complete Bloomberg News article hit the link below:

Pandit’s Latest Trick: An Insider’s Guide to Avoiding Bank Fees

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