This discussion prompt was asked after learning about risk allocation, regulated contracts and government requirements when contracting with corporations for contract law class.

Oftentimes, the U.S. government regulates private industries for the benefit of consumers. For example, the U.S. Congress passed and President Barack Obama signed into law the Credit Card Accountability Responsibility and Disclosure Act of 2009 ("CARD Act"). Several of the main provisions address how credit issuers must interact with consumers, like a requirement that credit card companies give consumers 21 days or more to pay their bill from the date of mailing, and another that prohibits payment deadlines from falling on the weekend or mid-day.

Why does the government intervenes in private contractual relations? Is government intervention on behalf of consumers the right approach? What arguments can justify whether or not government intervention on behalf of consumers is the right approach?