WASHINGTON (MarketWatch)–Former Federal Reserve Chairman Paul Volcker criticized Congress’ attempt to delay provisions of the Dodd-Frank law rule that bears his name.

On Wednesday, the House of Representatives voted down a bill that would have delayed a provision of the so-called Volcker rule that would have given banks until 2019 to comply with rules regarding collateralized loan obligations, a type of security backed by debt, often high-risk commercial loans.