By Vicki Needham - 11/03/10 04:07 AM EDT
House Financial Services Chairman Barney Frank (D-Mass.) was elected Tuesday to a 16th term, beating out Republican newcomer Sean Bielat.
Frank was in one of the toughest battles of his political career, taking heat for ushering through the massive financial regulatory overhaul that is commonly called the Dodd-Frank bill.
Bielat is a former Marine who received contributions from outside the state who wanted Frank out of the House. He tried to frame Frank as a main reason for the nation's financial problems.
Late in the campaign, the long-time incumbent spent $200,000 of his own money on the campaign.
Frank will lose his seat as chairman of the committee with the Republican takeover of the House and would likely stay on as the panel's ranking member.