CARYN SEIDMAN BECKER ELECTED AS A CLASS B DIRECTOR TO NEW YORK FED BOARD OF DIRECTORS

The following information was released by the Federal Reserve Bank of New York:

The Federal Reserve Bank of New York announced that Caryn Seidman Becker, chairman and chief executive officer of CLEAR, has been elected as a Class B Director. Class B directors represent the public with and give consideration to issues including the interests of agriculture, commerce, industry, services, labor, and consumers. Seidman Becker was elected by member banks in Group 2, which consists of banks with capital and surplus greater than $40 million and less than $2 billion. Seidman Becker will serve a three-year term ending December 31, 2028.

CLEAR is the secure identity company and headquartered in New York. Prior to CLEAR, Seidman Becker started and served as the managing partner of Arience Capital, an asset management firm.

Since 2022, Seidman Becker has served as a director of The Home Depot, Inc. She sits on the board of trustees for the Partnership for New York City and is a board member of Robin Hood, the TEAK Fellowship, and the 9/11 Memorial and Museum.

Seidman Becker is a graduate of the University of Michigan with a Bachelor of Science in political science.

About the Reserve Banks Boards of Directors

The Federal Reserve Act of 1913 requires each of the Reserve Banks to operate under the supervision of a board of directors. Each Reserve Bank has nine directors who represent the interests of their Reserve District and whose experience provides the Reserve Banks with a wider range of expertise that helps them fulfill their policy and operational responsibilities. The nine directors of each Reserve Bank are divided evenly by classification: Class A Directors represent the member banks in the District; Class B Directors and Class C Directors represent the interests of the public. The directors of the Reserve Banks act as an important link between the Federal Reserve and the private sector, ensuring that the Feds decisions on monetary policy are informed by actual economic conditions.