Notable felt tip pen used by President Lyndon B. Johnson to sign the ‘Consumer Credit Protection Act’ (P. L. 90-321). The official 'bill signer' Eversharp pen measures 5.25″ long and features a navy-blue plastic barrel bearing a gold facsimile signature with presidential seal and a silver-tone cap section. Mounted and framed in a shadowbox to an overall size of 10.25 x 7.25; included with the pen is a typed caption: “Pen used by President Lyndon B. Johnson, May 29, 1968, when he signed S. 5, the Consumer Credit Protection Act’ (P. L. 90-321), Presented to William B. Camp.” In fine condition.
Consumer Credit Protection Act is Federal legislation that created disclosure requirements that must be followed by consumer lenders such as banks, credit card companies, and auto-leasing firms. Pursuant to the act, consumer lenders are required to inform consumers about annual percentage rates (as opposed to the stand-alone interest rate), special or previously hidden loan terms, and the total potential costs to the borrower. Other areas the act focused on related to extortionate credit transactions, restrictions on wage garnishment, and the National Commission on Consumer Finance. In 1966, President Lyndon Johnson appointed William B. Camp as Comptroller of the Currency, a position he held until 1973.
We use cookies on this site to improve your experience. By using this site, you accept our use of cookies. To learn more, please see our Privacy Policy.
