Caryn Seidman Becker, chairman and chief executive officer of CLEAR, has been elected as a Class B Director to the Board of Directors at the Federal Reserve Bank of New York. Her term will last three years, ending on December 31, 2028. The election was conducted by member banks in Group 2, which includes banks with capital and surplus between $40 million and $2 billion.
Class B directors are responsible for representing the public and considering issues that affect agriculture, commerce, industry, services, labor, and consumers. The Federal Reserve Act requires each Reserve Bank to have a board of nine directors divided into three classes: Class A represents member banks; Classes B and C represent the public.
Seidman Becker leads CLEAR, a secure identity company based in New York. Before joining CLEAR, she founded and managed Arience Capital, an asset management firm. Since 2022, she has served as a director at The Home Depot, Inc., is on the board of trustees for the Partnership for New York City, and serves on boards for Robin Hood, the TEAK Fellowship, and the 9/11 Memorial & Museum.
She holds a Bachelor of Science degree in political science from the University of Michigan.
“The directors of the Reserve Banks act as an important link between the Federal Reserve and the private sector, ensuring that the Fed’s decisions on monetary policy are informed by actual economic conditions,” according to information provided by the Federal Reserve Bank of New York.
The Board of Directors at each Federal Reserve Bank provides expertise from various sectors to help fulfill policy and operational responsibilities required under federal law.
