I don't know where you think that credit cards are federally insured and if they are what is insured by the gov't?
The federal insurance out there is FDIC and it is to cover deposits in checking, NOW, and savings accounts, money market deposit accounts, and time deposits such as certificates of deposit (CDsmade in case of a bank failure. Fraudulent activity is not protected. Especially if you as the buyer took the money out knowingly. If money was taken out illegally that is up to the bank discretion not the gov't.
Credit cards is another form of payment like Paypal, money order, or cash. The only protection you have is dependent on the credit card company against fraud but that is through the credit card company not gov't. By definition FDIC doesn't insure this. Large banks that has credit cards and bank account customers are FDIC insured to cover the bank accounts not their credit cards.
If I'm wrong I would like to know since I never heard of this before relating to credit cards cause there's no need to insure something that you never had money in.
Perhaps this will teach people that credit cards are not evil and it has more benefits for these situations. I use credit card purchases for almost every transaction if there's no minimum purchase requirements.