Stop banks from cranking up your credit card interest rate to loan shark levels just because a payment was late!

Banks are getting away with what would - and should - otherwise be considered a criminal activity, only b/c they can!
It is unreasonable that banks are able to increase the interest rate on a credit card (in many cases to loan shark levels) due to a SINGLE late payment. Charge a late fee! That's a reasonable response to a late payment - not increasing the rate unless the lateness is habitual. What if they did this with mortgage rates? Pay late & your rate doubles for the life of the loan! Would that be OK too? This practice MUST be stopped!