WASHINGTON — Veteran Rep. Barney Frank, D-Mass., an architect of the most sweeping financial reform legislation since the Depression and a muni bond investor, said Monday he will retire from Congress next fall and use his remaining time in office to defend the new law against Republican counterattacks.

The 16-term congressman said he based his retirement decision in part on legislative redistricting, which would have forced him to run in a new, more conservative district.

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