Exhibit 23.2


                         Consent of Independent Auditors

We consent to the incorporation by reference in the Registration Statement (Form
S-8A) pertaining to the Capital One Financial Corporation 1999 Non-Employee
Directors Stock Incentive Plan of our report dated January 16, 2001, except for
Note E as to which the date is February 6, 2001, with respect to the
consolidated financial statements of Capital One Financial Corporation
incorporated by reference in its Annual Report (Form 10-K) for the year ended
December 31, 2000, filed with the Securities and Exchange Commission.

                                                /s/ ERNST & YOUNG LLP

McLean, Virginia
February 4, 2002