Subject: File No. S7-26-04
From: Kelly S McEntire
Affiliation: Retired State of Utah Administrator

December 9, 2005

I believe that all lending institutions, both Credit Unions and Banks need to maintain the product of thier work so that it stays connected to the people of the process.

Granting an exemption in this area would be taking a step backward after so much progess involving disclosure, now throuh Rule changes I can see tha effected participants trying to regain market advantage over the Customer.

Again I support the actions of the SEC in its efforts to monitor an ever expanding group of products and services while trying to maintain customer confidance.