David D. Spears was sworn in as a Commissioner of the Commodity Futures Trading Commission (CFTC) on September 1, 1996. Mr. Spears was nominated by President Clinton on May 3, 1996, and confirmed by the Senate on August 2, 1996, to a term expiring April 2000. He served as Acting Chairman of the CFTC from June 2, 1999, to August 11, 1999. Commissioner Spears chaired the CFTC’s Financial Products Advisory Committee and currently chairs the CFTC’s Agricultural Advisory Committee.
A native of Wichita, Kansas, Mr. Spears received his B.S. degree in Agricultural Economics from Kansas State University in 1979. After graduating from college, Mr. Spears joined the Wichita Bank for Cooperatives in the lending division, which finances agricultural cooperatives and agribusiness in the four-state region of Kansas, Oklahoma, Colorado and New Mexico. From 1979 to 1989, Commissioner Spears worked at the bank (later Cobank) as, among other positions, Assistant Vice President, responsible for supervising the delivery of financial services and products to Cobank’s customers. During this period Commissioner Spears also served on various bank management, advisory and loan committees.
Prior to joining the CFTC, Mr. Spears served Senator Robert Dole in several different senior staff capacities. Starting in 1989, Mr. Spears served as a legislative assistant to Senator Dole in Washington, D.C, specializing in agriculture, credit and trade issues. In this regard, Commissioner Spears had primary responsibility for advising Senator Dole on agriculture and agricultural trade policy, including the 1990 Farm Bill and other credit and trade legislation.
From July 1992 through June 1996, Commissioner Spears served as State Director for Senator Dole in Wichita, Kansas. In this role, he managed the Senator's staff in offices located in Kansas City, Topeka, and Wichita, as well as a mobile office for Western Kansas. He also traveled throughout the state representing Senator Dole at a wide range of events and forums.
Mr. Spears and his wife, Pam, have two children.