In the final day of defense arguments in the Visa/MasterCard antitrust trial, MasterCard's sole expert witness said that the Justice Department's proposed changes to the credit card industry could mean the end to dual issuance, something the government itself has called pro-competitive.

Economics professor Robert S. Pindyck of the Sloan School of Management at Massachusetts Institute of Technology testified Tuesday that if the government succeeds in ending dual governance - the system that lets banks sit on the board of one card association, but issue a substantial portion of their credit cards under the brand of the rival association - dual issuance would also come to an end.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.