Exhibit (23)(b)

                         CONSENT OF INDEPENDENT AUDITORS

         We consent to the incorporation by reference in this Registration
Statement on Form S-8 and related prospectus of Wachovia Corporation (formerly
named First Union Corporation) for the registration of equity 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 June 5, 2002,
filed with the Securities and Exchange Commission.

                                          /s/ ERNST & YOUNG LLP

Greensboro, North Carolina
June 13, 2002

                                                                              12