Rep. Barney Frank said Tuesday he will look to pass new laws that will prevent excessive leverage in the financial system.

I will be pushing for legislation that will make it illegal to securitize 100 percent of anything, he said in Washington as he discussed plans to alter rules for mortgage financing, according to Reuters.

Frank, the chairman of the House of Representatives Financial Services Committee, said he will also hold hearings to create a strongly empowered systemic risk regulator.

He issued plans to change the rules for mortgage financing, fight predatory lending, and reform credit card practices.