Mark has more than 40 years of experience representing banks, credit card companies, and other financial institutions in the areas of antitrust and complex business litigation. He specializes in handling a variety of class actions that arise out of the U.S. Sherman Act, the Federal Arbitration Act, the U.S. RICO Act, the U.S. Real Estate Settlement Procedures Act, the U.S. Truth in Lending Act, and U.S. state insurance and deceptive trade practices acts, including:
Clients appreciate Mark’s ability to explain complex issues in layman’s terms and keeping them informed throughout the litigation process. He has tried numerous cases in various state and federal courts and has substantial experience in multidistrict litigation, advising clients about the best ways to manage risk and resolve complex cases. For many years, he has been representing a major financial institution in a variety of high-stakes litigation matters directly impacting significant lines of its business. These include its defense In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, an antitrust action by a class comprised of merchants who accept Visa and MasterCard payment cards alleging price fixing and tying claims. He also represented that client in other antitrust litigation 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 related to correspondent banking services and issues.
Mark has been recommended by Chambers USA 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 ranked by Legal 500 US 2017 in Financial Services Litigation.
Mark was formerly the co-chair of the firm’s Financial Services Litigation Practice Group, managing partner of the New York Office, and served on the firm’s Executive and Points Committees.
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)
Mark Ladner is recognized by Chambers USA 2010–2018, Legal 500 US 2014 and 2017, Best Lawyers in America 2013–2019, and Super Lawyers 2006–2010 and 2012–2018.
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