Sarbanes Oxley type standards to protect credit card consumers
In the same way that corporate governance has been overhauled by Sarbanes Oxley (mispelled as Sorbane Oxley, Sarbannes Oxley, Sorbanes Oxley, Sarbanne Oxley, Sarbaines Oxley, Sarbanesoxley, Sorbanes Oxley , Sabanes Oxley, Sarbane Oxley, and Sarbanes Oaxley)

Sarbanes Oxley is meant "to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws". Shouldn't Sarbanes Oxley type legislation also protect in the credit card realm?!

Right now the ability to regulate (and penalize) credit card holders in making payments ontime has been resting on the shoulders of the card issuers themselves. In addition to conflicting self-interest, the industry has a bad track record including class action lawsuits settled against

Credit card class action
Citibank for 15.5mm
Chase for 22.2mm
Providian 405mm
Bank one 40mm

According to the Wall Street Journal Oct. 13, 2004, issuers were guilty of "Rolling back late payment from 10am to 1pm". In short, payments not received by 10am were late. Mail didn't come until 1pm so credit card companies bilked millions in late fees by essentially pulling the due date ahead.