Mark Ladner is a member and former co-chair of the firm's Financial Services Litigation Practice Group.
Mr. Ladner has more than 30 years of experience representing banks, credit card companies and other financial institutions in the areas of antitrust and complex business litigation. In particular, he handles a variety of class actions challenging the structure and practices of the payment card industry, the setting of credit card fees, privacy and data security, the propriety of collateral protection insurance programs, and the disclosure and setting of charges to holders of credit cards. These cases involve issues arising out of the Sherman Act, the Federal Arbitration Act, the RICO Act, the Real Estate Settlement Procedures Act, the Truth in Lending Act (TILA), and state insurance and deceptive trade practices acts. Mr. Ladner is recommended by Chambers USA 2010–2014 in both the Financial Services Regulation and Antitrust practice areas, where clients describe him as "a thoughtful litigator" and "a fine antitrust litigator with an established background in the financial services sector." He has also been recognized by Legal 500 US 2014 in Financial Services Litigation.
Mr. Ladner has tried numerous cases in various state and federal courts and has substantial experience in multi-district litigation. For many years, he has been representing a major financial institution in a variety of significant litigation matters. These include its defense in In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, an antitrust action by a class of all merchants who accept Visa and Master Card payment cards alleging price-fixing and tying claims. He has also represented that institution in other antitrust litigations involving the payment card business, including In re Currency Conversion Fee Antitrust Litigation, American Express v. Visa, and In re Late Fee and Over-Limit Fee Litigation. He has also represented other financial institutions in disputes relating to correspondent banking services and related issues.
Mr. Ladner is the former managing partner of the firm's New York office. He also served on firm's Executive Committee and board of directors.
In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation
(E.D.N.Y.) Representing a major financial institution in federal antitrust class and individual actions alleging that the payment card practices of the defendant card networks and financial institutions constitute an unreasonable restraint of trade and illegal monopolization. This is likely the largest private antitrust case ever brought. (Ongoing)
In re Late Fee and Over-Limit Fee Litigation
(N.D. Cal.) Won dismissal for a major financial institution in a class action challenging the imposition of late and over limit fees as a violation of the Sherman Act and the National Bank Act. Case is currently on appeal before the Ninth Circuit. (Ongoing)
In re Currency Conversion Fee Antitrust Litigation
(S.D.N.Y.) Represented a major financial institution in a class action alleging that Visa, MasterCard, and the largest card-issuing banks conspired to fix and conceal foreign currency fees in violation of the antitrust laws, the Truth in Lending and Electronic Fund Transfer Acts, and various state laws. In October 2009, the district court granted final approval of the settlement which was highly favorable to our client. (2009)
Licci v. American Express Bank
(S.D.N.Y.) Representing a major financial institution in an action seeking damages for correspondent banking services. (Ongoing)
American Express v. Visa, et al.
(S.D.N.Y.) Favorably settled a matter for a major financial institution. Allegedly defendants violated the Sherman Act by conspiring to exclude American Express from the card-issuing and network services markets. (2006)