Federal Reserve approves acquisition of TCF Financial by Huntington Bancshares

FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo

WASHINGTON (Reuters) – The Federal Reserve said on Tuesday it had approved the acquisition of TCF Financial Corporation by Huntington Bancshares Incorporated.

The decision clears the way for the $6 billion all-stock deal announced in December, which marks a major move by U.S. regional lenders to expand their size.

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