Massachusetts Rep. Barney Frank will not seek reelection in 2012. Mr. Frank, a prominent 16-term liberal Democrat, plans to hold a press conference in Newton, Mass. on Monday afternoon, where he is expected to formally announce and answer questions about his decision, according to a statement from Frank’s office.
Back in February, Mr. Frank announced he would seek re-election in 2012 amid speculation that he would run for the Senate against Republican Scott Brown.
Frank, 71, Ranking Member of the House Financial Services Committee and co-author of the 2010 Dodd-Frank financial regulatory reform bill, was elected to office in 1980.