Dodd-Frank Act. The Dodd-Frank Act (fully known as the Dodd-Frank Wall Street Reform and Consumer Protection Act) is a United States federal law that places regulation of the financial industry in the hands of the government.
The Declaratory Act was a gesture of British Parliament reasserting its authority to pass taxes and laws on the colonies, even though they lacked any representation. The Stamp Act of 1765 had backfired on the British Crown.
The Declaratory Act, which was passed by the British Parliament in 1766, stated that Parliament had the right to legislate for the colonies in all cases whatsoever. The purpose of the Act was to reassert Parliament's right of control over the colonies.