1



Exhibit 23.2

                         Consent of Independent Auditors

     We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-3 and related Prospectus of Capital One
Financial Corporation for the registration of 257,201 shares of its common
stock and to the incorporation by reference therein 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 on Form 10-K for the
year ended December 31, 2000, filed with the Securities and Exchange
Commission.


                                            /s/ Ernst & Young LLP

                                            May 22, 2001
                                            McLean, Virginia