Rep. Barney Frank (D-MA), the eponymous co-author of the controversial Wall Street reform act, will announce later today that he will not seek reelection next year, a number of Massachusetts news outlets are reporting.
The other co-author of the bill, Sen. Chris Dodd, left Congress in January and is now the President of the Motion Picture Association of America.
Frank has served in Congress since 1981, and was the first lawmaker to voluntarily reveal that he was gay — which he did in 1987.
He will make his retirement announcement at 1 p.m. in Newton, Mass.
His district, the Massachusetts 4th, is a safe Democratic seat — and will likely be contested by several candidates who have yielded to Elizabeth Warren in the race to unseat Sen. Scott Brown. Both Setti Warren and Alan Khazei live in the confines of the newly-redrawn district and could announce a run for the seat, sources say.
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