Exhibit 23.3
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                       CONSENT OF INDEPENDENT ACCOUNTANTS
                       
We consent to the inclusion in this Post-Effective Amendment to the registration
statement on Form S-4 of Webster Financial  Corporation of our report dated July
24,  1995 on our  audit of the  consolidated  financial  statements  of  Shelton
Bancorp, Inc. ("Shelton"),  which report was included in Shelton's annual report
on Form 10-K.  We also  consent to the  reference  to our firm under the caption
"Experts."

                                                   Coopers & Lybrand L.L.P.
   
Hartford, Connecticut
October 18, 1995