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 was passed along with the repeal of the Stamp Act in March, 1766 to assert Parliament's authority to rule over the American colonies. Members of Parliament knew they had to repeal the Stamp Act because it had brought the British economy to a standstill after the Americans boycotted British goods.