EXHIBIT 23.1

                        CONSENT OF INDEPENDENT AUDITORS


    We consent to the reference to our firm under the caption "Experts" in
Amendment No. 1 to the Registration Statement (Form S-4) and related Prospectus
of U.S. Bancorp for the registration of 1,002,000,000 shares of its common stock
and to the incorporation by reference therein of our report dated January 18,
2000, with respect to the consolidated financial statements of U.S. Bancorp
included in its Annual Report (Form 10-K) for the year ended December 31, 1999,
filed with the Securities and Exchange Commission.


                                          /s/ ERNST & YOUNG LLP


Minneapolis, Minnesota
December 7, 2000