The Obama administration is intensifying efforts for passage of a financial regulation overhaul on Capitol Hill. On Wednesday, Obama met with congressional leaders at the White House for talks on the pending Senate bill. After the meeting, Obama rejected Republican claims that Democratic proposals would open the door to future bailouts.

President Obama: “We want to get that into daylight so that regulators and ordinary Americans know what’s going on when it comes to this huge segment of the financial system. I am absolutely confident that the bill that emerges is going to be a bill that prevents bailouts. That’s the goal.”

Among the proposals under fire from Republicans is a measure from Democratic Senator Blanche Lincoln of Arkansas. Lincoln has backed rules that would force large banks to stop trading in most forms of derivatives.