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Spencer t bachus iii

Spencer T. Bachus III

Export-Import Bank

Member, Board of Directors | Financial Disclosure »

Bio, via Bachus & Brom, LLC:

Mr. Bachus graduated from Auburn University in 1969 and began his legal career in 1973 after graduating from the University of Alabama School of Law. While in law school, Mr. Bachus earned the Somerville Prize for distinguished legal scholarship. Mr. Bachus served in the Alabama National Guard from 1969 to 1971, during the Vietnam War, while attending law school. Mr. Bachus maintained a private law practice until he was elected to the U.S. House of Representatives in 1992. As a member of the U.S. House of Representatives, Mr. Bachus won appointment to such important committees as Transportation and Infrastructure, Judiciary, and the Financial Services Committee. His accomplishments for his district and state include his work on I-22, the Northern Beltline, and other major highway and infrastructure projects ; the establishment of the National Computer Forensics Institute; the creation of the Cahaba River National Wildlife Refuge; and the construction of the Alabama National Cemetery to honor veterans and their families. Selected by his Republican colleagues as their leader on the Financial Services Committee as Ranking Member and Chairman (2006-2012), Mr. Bachus assumed his responsibilities as the U.S. financial system confronted its greatest challenges since the 1930s. Working with a strong team of committee members and his highly-respected committee staff, Mr. Bachus strove to find solutions to the critical issues facing the nation’s economy. During the depths of the crisis in Fall 2008, Mr. Bachus advocated capital injections to help stabilize the financial sector, the approach ultimately adopted by the Treasury Department. According to Act of Congress by Robert Kaiser, Treasury Secretary Henry Paulson “asked his staff to figure out how to do just what Spencer Bachus had suggested on September 18…” Bachus was named Chairman Emeritus of the Committee for the 113th Congress. The legislative accomplishments of Mr. Bachus include the Fair and Accurate Credit Transactions (FACT) Act, deposit insurance reform, Check 21, the Unlawful Internet Gambling Enforcement Act, and originating the provisions that became the Jumpstart Our Business Startups (JOBS) Act. One of his proudest legacies is debt relief, which has been credited with reducing hunger and poverty in poor countries and which the singer and humanitarian activist Bono wrote in a private note has allowed more than 51 million children to attend school. A voice for racial understanding and reconciliation, Mr. Bachus received the Houghton-Lewis Leadership Award from the Faith and Politics Institute. As Dean of the Alabama delegation, he worked on a bipartisan basis with his Birmingham area colleague, Representative Terri Sewell, to authorize a Congressional Gold Medal honoring the Four Little Girls who died in the civil rights movement era bombing of the 16th Street Baptist Church.

Former Positions Outside Government

Former Compensation Sources

See more financial disclosure details ⬇

Employment Assets

Description Value Income
Bachus and Brom $82,781
Parker and Lundy contingency fee case (value not readily available) None (or less than $201)
Wilson Dinsmore Law Firm contingency fee case ( value not readily ascertainable) None (or less than $201)
Oakstar Bank $15,115
Blake Sherrod $12,800
Bachus and Brom, Capital Account $1,001 - $15,000 None (or less than $201)

Other Income/Assets

Description Value Income
Investment Account
British Petroleum $1,001 - $15,000 None (or less than $201)
Cisco Systems, Inc. - Common Stock $1,001 - $15,000 None (or less than $201)
Discover Financial Services $1,001 - $15,000 None (or less than $201)
Exxon Mobil Corp $1,001 - $15,000 None (or less than $201)
General Electric $1,001 - $15,000 None (or less than $201)
Johnson & Johnson $1,001 - $15,000 None (or less than $201)
Verizon Communications Inc $1,001 - $15,000 None (or less than $201)
Wal-Mart Stores $1,001 - $15,000 None (or less than $201)
U.S. Brokerage account (cash) $1,001 - $15,000 None (or less than $201)
U.S. bank Money Market Account #1 $100,001 - $250,000 $1,001 - $2,500
U.S. bank Money Market Account #2 $100,001 - $250,000 $2,501 - $5,000
U.S. bank Checking Account #1 $15,001 - $50,000 None (or less than $201)
U.S. bank Checking Account #2 $50,001 - $100,000 None (or less than $201)
U.S. bank Checking Account #3 $15,001 - $50,000 None (or less than $201)
IRA
American Century Growth $15,001 - $50,000 $1,001 - $2,500
Artisan Mid Cap Value Adv $1,001 - $15,000 None (or less than $201)
Baron Growth Institutional $1,001 - $15,000 None (or less than $201)
Blackrock Inflation Protected Bond I $1,001 - $15,000 None (or less than $201)
BlackRock Low Duration Bd Inv Inst $15,001 - $50,000 None (or less than $201)
Cambiar Intl Equity Inv $50,001 - $100,000 None (or less than $201)
Eaton Vance Income Fund of Boston I $15,001 - $50,000 None (or less than $201)
Hartford Schroder Em Mkt Eq $15,001 - $50,000 $1,001 - $2,500
Ivy Mid Cap Growth $1,001 - $15,000 $201 - $1,000
Loomis Sayles Small Cap Value Inst $1,001 - $15,000 $201 - $1,000
Matthews Asian Japan Inv $1,001 - $15,000 $1,001 - $2,500
PIMCO Short-Term P $1,001 - $15,000 None (or less than $201)
PIMCO Total Return P $15,001 - $50,000 None (or less than $201)
TRowe Price Equity Income $15,001 - $50,000 $1,001 - $2,500
Southwood Enterprises, LLC (Rental property, Birmingham, AL) (The Apartment Complex was sold in 2016. All proceeds were distributed during the reporting period. The distribution was made in three installments.) None (or less than $1,001) $735,000
Restorative Healthcare, LLC. (Administrative Healthcare Services) $1,001 - $15,000 None (or less than $201)
Wellness Clinic Consultants, LLC. (Administrative Healthcare Services) $1,001 - $15,000 None (or less than $201)
Pacific Life Variable Annuity
Pacific Funds Portfolio Optimization Moderate $100,001 - $250,000 None (or less than $201)
Procter & Gamble $1,001 - $15,000 None (or less than $201)

Employment Agreements and Arrangements

Employer or Party City, State Status and Terms Date
Bachus and Brom Birmingham, Alabama Pursuant to a partnership agreement, following my withdrawal from the firm, I shall receive no payments, compensation, or assets. Upon confirmation, my name will be removed from the firm name, and the firm will adopt a new name ("Successor LLC"). My capital account will be transferred to Successor LLC to satisfy payments of the firm's monthly lease, which extends through October 2017. I also have agreed to reimburse the Successor LLC for any shortfall in such rent payments. May 16, 2017
Parker and Lundy (This agreement was reached in May 2017, as part of my plans to enter government service. The case settled in May 2017 after this report was originally signed.) Birmingham, Alabama Upon confirmation, I will transfer to Parker and Lundy a case in which I have contingency fee interest. I will retain an interest in the fee, as stated in my agreement with that firm which will be fixed prior to my confirmation. May 16, 2017
Wilson Dinsmore Law Firm (This agreement was reached in May 2017, as part of my plans to enter government service.) Jefferson County, Alabama Upon confirmation, I will transfer to Wilson Dinsmore Law Firm a case in which I have a contingency fee interest. I will retain an interest in the fee, as stated in my agreement with that firm which I will be fixed prior to my confirmation. May 16, 2017

Liabilities

Creditor Name Creditor Type Amount Rate Year Incurred
Regions Mortgage Mortgage on Personal Residence $50,001 - $100,000 3.75 2015
BBVA Compass Exercised Line of Credit $50,001 - $100,000 Variable. Presently 3% 1995

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