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.
At practically the same time, however, the British government voted for another Act--the Declaratory Act, which granted Parliament the right to tax the colonies for any reason at any time. The official text of the Act stated that Britain had the authority to impose laws upon the colonies in all cases whatsoever.