WASHINGTON — Sen. David Vitter, R-La., a member of the Senate Banking Committee, announced Tuesday that he will run for governor of Louisiana in 2015.

Vitter, who joined the Senate in 2005, has been a vocal critic of "too big to fail," co-sponsoring legislation last year with Sen. Sherrod Brown, D-Ohio, to significantly raise capital requirements on the largest institutions. Among other issues, he has also been active in pushing for reforms to the Federal Housing Administration, repeatedly warning about the agency's troubled finances before it received a bailout from the Treasury Department late last year.

"I believe as our next governor, I can have a bigger impact addressing the unique challenges and opportunities we face in Louisiana," Vitter said in a video on his new campaign website, adding that "this decision will in no way limit the critical work I'm doing today in the U.S. Senate."

News of the decision follows months of rumors that the lawmaker was considering a bid for the governor's seat. He is up for reelection in the Senate in 2016.

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