Exhibit (23)(b)

                         CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the caption "Experts" and to the
incorporation by reference in this Amendment No. 1 to Form S-3 Registration
Statement and related Prospectus of Wachovia Corporation (formerly named First
Union Corporation) for the registration of trust preferred securities and to the
incorporation of our report dated January 17, 2001 (except Note A, as to which
the date is August 24, 2001) with respect to the restated audited financial
statements of Wachovia Corporation for each of the three years in the period
ended December 31, 2000 included in Wachovia Corporation's (formerly named First
Union Corporation) Current Report on Form 8-K dated August 30, 2001, filed with
the Securities and Exchange Commission.

/s/ Ernst & Young LLP

Greensboro, North Carolina
October 29, 2001