Discover who preferred creditors are, how they get prioritized in bankruptcies, and examples of types like employees and tax authorities.

Learn how a transferable letter of credit enables a primary beneficiary to transfer credit to others, securing payments for suppliers, and facilitating smoother international trade.

Question: I heard that the Consumer Financial Protection Bureau (CFPB) recently issued new rules regarding small creditors. How exactly has the definition of a “small creditor” changed with regard to ...