1
 
                                                                    EXHIBIT 23.2
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
     We hereby consent to the incorporation by reference in the Proxy Statement
constituting part of this Registration Statement on Form S-4 of First American
Corporation of our report dated August 11, 1995 appearing on page 101 of Charter
Federal Savings Bank's Annual Report on Form 10-K for the year ended June 30,
1995. We also consent to the reference to us under the headings "Experts" in
such Proxy Statement.
 
/s/  Price Waterhouse LLP
 
PRICE WATERHOUSE LLP
 
Atlanta, Georgia
   
October 25, 1995