Dunn served as acting chairman of the CFTC from Jan. 20, 2009 to May 19, 2009. He replaced Walter Lukken as acting chairman when Barack Obama took office as president of the United States and was replaced when Obama's choice to head the commission, Gary Gensler, was confirmed as chairman by the U.S. Senate. Gensler was named head of the CFTC in December 2008.
Dunn was sworn in as a CFTC commissioner in December 2004, to a term expiring in June 2006. He was nominated again by President Bush to a second term, which was confirmed by the U.S. Senate in August 2006. Dunn continued to serve after his second term expired and was then replaced by newly confirmed commissioner Mark Wetjen in October 2011.
Dunn served as chairman and designated federal official of the CFTC Agricultural Advisory Committee (AAC). The AAC was created to advise the commission on agricultural issues surrounding the trading of commodity futures and options and to serve as a communications link with the agricultural community. He is also the chairman of the commission's Forex Task Force, created to raise public awareness of fraudulent activity in the retail foreign currency (forex) futures and option markets and to highlight the commission's enforcement activities in forex.
Prior to his service with the CFTC, Dunn was as director of the Office of Policy and Analysis at the Farm Credit Administration (FCA) where he managed the two FCA divisions responsible for developing regulations and public policy positions for applicable statutes and promoted the safety and soundness of the Farm Credit System (FCS). He served briefly as a member of the FCA board.
Dunn has also served as Under Secretary of Agriculture for Marketing and Regulatory Programs, Acting Under Secretary for Rural Economic and Community Development, and as Administrator of the Farmers Home Administration (FmHA) at the U.S. Department of Agriculture (USDA).
Dunn has been involved in the agricultural credit arena dating back to the late 1970s, when he was the Midwest area director for the FmHA. He has been a loan officer and vice president of the Farm Credit Banks of Omaha and has served as a member of the professional staff of the Senate Agriculture Committee, specializing in agricultural credit. At the USDA, Dunn also served as a member of the Commodity Credit Corporation and Rural Telephone Bank Board. He is a past member of the Iowa Development Commission and has served as chairman of the State of Iowa's City Development Board.
Dunn received his B.A. and M.A. degrees from the University of New Mexico.
Speeches & Testimony
The CFTC keeps an online archive of all of the speeches and testimony.
- Kansas City Board of Trade Appoints Public Directors for 2012. KCBT.
- Futures Hall of Fame 2011. FIA.
- Dunn replaces Lukken as acting chairman of CFTC. Futures & Options Intelligence.
- Obama picks ex-Treasury official Gensler for CFTC. Reuters.
- Senate confirms Mark Wetjen as new CFTC commissioner. Futuresmag.com.
- Commissioner Michael Dunn. CFTC Speeches & Testimony.