President Obama and top Republicans sparred over financial reform that is expected to crack down excesses of Wall Street.
Obama used a weekly address to press for reform and calling Republicans "cynical and deceptive", the New York Times said.
The proposed bill pushes changes to avoid a meltdown similar to one in 2008 and the creation of a consumer protection agency, said the New York Times.
"If there is one lesson that we've learned it's that an unfettered market where people are taking huge risks and expecting taxpayers to bail out when things go sour is simply not acceptable," Obama said.
Both sides said they believed common ground could be reached, but no signs have been shown of either side giving ground, Reuters said.
NOTE: This is one of the three articles that could not be posted yesterday.