Santander Bank (SAN.US) expands its U.S. operations with a key piece! The $12 billion acquisition of Webster Financial (WBS.US) has been approved by the Federal Reserve.

According to Zhitong Finance APP, Spanish banking giant Santander Bank (SAN.US) has received approval from the Federal Reserve to acquire Webster Financial (WBS.US). This will become one of the largest transactions conducted by a European bank in the U.S. market. After obtaining approval from other regulatory agencies, this Spanish banking giant is expected to complete the transaction on August 20.