Marc A. Lackner

Partner

Education

  • University of California, Hastings College of the Law, 1983, J.D.
  • University of California, Davis, 1974

Professional Admissions / Qualifications

  • California

Court Admissions

  • U.S. Court of Appeals - Ninth Circuit
  • All State Courts - California

Marc’s practice focuses primarily on consumer finance class action litigation and enforcement matters, with a particular emphasis on mortgage, credit card and deposit banking issues, including privacy (TCPA and state call recording schemes), and National Bank Act preemption.

Marc joined Reed Smith in 2012 as a partner in the Financial Industry Group, leaving Bank of America, where he was an Associate General Counsel, managing the Mortgage Litigation Group, which provided litigation support for that institution’s Consumer Real Estate and Legacy Asset Servicing Divisions.
After Bank of America’s 2008 acquisition of Countrywide Financial, Marc assumed responsibility for the Bank’s combined mortgage litigation, which grew to more than 7,000 open litigation matters, including more than 200 class actions. He also managed the integration of the legacy Countrywide and BofA litigation groups, and participated in the 2008 resolution of Countrywide’s legacy “Sales Practices” attorneys general investigations and enforcement actions, which resulted in the first significant residential mortgage loan modification program and became the model for HAMP. In addition, Marc assisted in the management of legacy Countrywide’s shareholder, MBS securities, and rep and warranty litigation, including issues of corporate separateness and successor liability.

Marc joined Bank of America in 1997 as a Senior Counsel, assuming primary responsibility for the Bank’s Consumer Real Estate (“CRE”) litigation in 1999. In 2003, he became an Associate General Counsel and assumed management of the Bank’s Consumer Products Litigation Group, which provided litigation support to Consumer Products (CRE, Insurance Services, Deposit Products, ATM/Debit and e-Commerce), as well as Card, Consumer Special Assets (subprime real estate, sub-prime auto, auto lease, and manufactured housing), Dealer Financial Services (indirect auto lending), Vendor Management, Corporate Marketing and Communications, Tax, and Bank Regulatory. During this period, he also managed the integration of the MBNA litigation group and its litigation portfolio.

From December 2003 through March 2004, Marc served as Bank of America’s interim Director of Litigation, before resuming management of the Consumer Products Litigation Group.

In 2004, he served as the Bank’s representative in its successful support of the California tort reform effort, Prop 64, as a member of the steering committee that drafted the state-wide initiative language.

While at Bank of America, Marc served as its primary National Bank Act preemption litigation resource in-house, including managing its amicus support in Watters v. Wachovia Bank, 550 U.S. 1 (2007) and Cuomo v. Clearing House Association, 557 U.S. ___, 129 S.Ct. 2710 (2009).

Marc joined Bank of America in 1997 after 12 years at Steefel, Levitt & Weiss in San Francisco, where he was a member from 1990-1997, and Co-chair/Chair of the Litigation Department from 1994-1996. At Steefel, his practice focused on the representation of financial institutions, including Bank of America. Marc's representation of Bank of America began in 1993 with his participation in the Bank's most significant jury trial, a $2.8 billion price-fixing class action. Although the alleged co-conspirators settled for $55 million, Bank of America refused to settle, resulting in a 10-week jury trial in San Francisco Superior Court and a defense verdict, affirmed on appeal.

Employment History

  • 2012 - Reed Smith
  • 1997 - Bank of America
    • Associate General Counsel (2003-2012); Director of Litigation (Interim 12/2003-3/2004); Assistant General Counsel (2000-2003); Senior Counsel (1997-2003)
  • 1987 - Steefel, Levitt & Weiss
  • 1983 - United States Court of Appeals for the Ninth Circuit - Staff Attorney

Professional Affiliations

  • San Francisco Legal Aid Society - Board Member