Progrexion's mission: give consumers a fair shake.

• Author: Padawer, Randy
• Position: CREDIT REPAIR

Ask Jeff Johnson to explain his transition from bank president to leading the nation's largest credit repair firm, and his response may surprise you.

"It actually has been a very easy transition," says Johnson, CEO of Progrexion Holdings, based in North Salt Lake. "While the banking industry has come under a lot of scrutiny of late, I've worked my entire professional life to help people improve their financial situations and standard of living."

But bank president as consumer advocate?

"Look, typecasting is as unfair as it is common," Johnson answers with the authority that has sustained decades of financial services experience, "and it's really harmful. In order for our economy to grow, especially now, we must rebuild the trust between consumers, lenders, credit bureaus, and all financial institutions.

"When lenders don't trust consumers, nobody qualifies for loans, and when consumers don't trust lenders, nobody applies. That kind of circular mistrust hinders any recovery."

After ten years as president and CEO of The Prudential Bank & Trust Company, Johnson served as head of marketing for Equifax, one of the big three credit bureaus, where his love for consumer advocacy was both tested and strengthened. Following a stint as founding president of GMAC Bank, Johnson joined Progrexion.

With about 1,200 employees and revenues approaching $150 million this year, Progrexion markets familiar credit repair brands like Lexington Law and CreditRepair.com to consumers in all fifty states.

John Heath has led Lexington Law's legal efforts as directing attorney for eight years, and his passion for consumer fairness mirrors Johnson's own.

"We are likely the largest consumer law practitioners in the United States," says Heath, "and my job is to defend consumers against what can be an unfair credit reporting system even though abuse was never its original intention."

"Unfortunately, too many have discovered that they're unjustifiably punished through higher interest rates when their credit scores are less than optimal," Heath continues. "Credit scores that might have qualified someone for a mortgage two years ago may not even merit an auto loan today."

Despite Heath's passion, it's undeniable that the credit repair industry has been sullied by the reputations of its worst players. In response, Congress passed the Credit Repair Organizations Act in the mid 90's to establish ethical guidelines for the field.

To this day, Progrexion brands distinguish...