The Albany Plan of Union was not a plan for independence; in fact, it still subjected the colonial governments to British control. However, many British and Americans still considered the plan too extreme, so it was ultimately never implemented.
DEFINITION of 'Regulation U' Regulation U is a Federal Reserve Board regulation that governs loans by entities involving securities as collateral and the purchase of securities on margin. Regulation U limits the amount of leverage that can be extended for loans secured by securities for the purpose of buying more securities.
Main article: Federal Reserve Board of Governors. The seven-member Board of Governors is a federal agency. It is charged with the overseeing of the 12 District Reserve Banks and setting national monetary policy. It also supervises and regulates the U.S. banking system in general.