Washington ( CNN ) -- U.S. Rep. Barney Frank , a prominent 16-term liberal Democrat from Massachusetts and arch-enemy of political conservatives nationwide , announced Monday that he does not intend to seek re-election in 2012 . Frank , 71 , said his decision to retire from Congress was prompted partly by changes made to the boundaries of his U.S. House district . As part of Massachusetts ' recently concluded redistricting process , Frank 's 4th Congressional District will lose the heavily Democratic blue-collar port city of New Bedford while gaining several smaller , more conservative towns . `` I will miss this job , ( but ) the district is very substantially changed , '' with roughly 325,000 new constituents , Frank told reporters . The veteran congressman said he was planning to retire after 2014 regardless , but said he did n't `` want to be torn '' next year between the need to serve his existing constituents , reach out to new district residents and protect his signature Dodd-Frank financial regulatory reform law . President Barack Obama issued a statement praising Frank 's public service , calling the congressman a `` fierce advocate for the people of Massachusetts and Americans everywhere who needed a voice . '' While Massachusetts ' entire House delegation is Democratic , local Republicans insist Frank 's retirement will put the reconfigured district in play . `` It is clear that Congressman Frank was not looking forward to another hard fought campaign after losing his gerrymandered district and spending nearly every penny he had in 2010 , '' Massachusetts Republican Party Executive Director Nate Little said in a written statement . `` Republicans were already gearing up for a strong race and Frank 's sudden retirement injects added optimism and excitement into the election . '' Frank , first elected to the U.S. House of Representatives in 1980 , is the top Democrat on the powerful House Financial Services Committee . The controversial 2010 Dodd-Frank measure , designed to rein in Wall Street excesses after the 2008 financial collapse , passed the House without any GOP support . Frank made headlines earlier in his career by becoming one of the first openly gay members of Congress . He was formally reprimanded by the House in 1990 for allegations relating to his association with a male prostitute . Launching his career as an aide to Boston Mayor Kevin White in the late 1960s , Frank quickly became known for an acidic political wit . `` One of the advantages to me of not running for office is I do n't even have to pretend to try to be nice to people I do n't like , '' Frank joked with reporters Monday . `` Some of you may not think I 've been good at it , but I 've been trying . '' Frank 's current district -- which extends from the affluent , liberal Boston suburbs of Newton and Brookline to the cities of New Bedford and Fall River -- is considered safe Democratic political terrain . Frank did , however , receive an unusually strong challenge from Republican Sean Bielat in 2010 . Frank ultimately defeated Bielat , 54 % to 43 % .
Frank says his new district boundaries contributed to his decision to retire . Frank , a Democrat , was first elected to the House from Massachusetts in 1980 . A prominent liberal , he co-authored the Dodd-Frank financial reform bill . He is retiring after two terms because of term limits.