Massachusetts Rep. Barney Frank, a prominent 16-term Democrat, announced he will not seek reelection.
This move closes a career of more than three decades capped by passage last year of legislation imposing new regulations on Wall Street.
Frank served on the House Financial Services Committee and co-authored the Dodd-Frank Regulatory Reform bill, meant to reign in Wall Street excesses in the wake of the 2008 financial collapse.
He was formally reprimanded by the House in 1990 for allegations relating to his association with a male prostitute.
Frank announced his retirement in a news conference Monday afternoon.