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 purpose of the British Declaratory Act of 1766 is for Great Britain to have ultimate control of the English Colonies.