Prime Minister Scott Morrison has poured cold water on Labor calls to extend the banking royal commission.
Opposition Leader Bill Shorten wants the commission's deadlines extended after an interim report released on Friday contained no draft recommendations.
"It's an independent royal commission and I'm not going to lecture the royal commissioner about how they should do their job," Mr Morrison told the ABC on Sunday.
Commissioner Kenneth Hayne released a scathing three-volume report on Friday highlighting an insidious culture of greed and profit over basic decency permeating the big banks.
He also took aim at regulators for cosying up to financial services firms and striking limp deals in response to systemic misbehaviour rather than pursuing tough prosecutions.
Mr Morrison again indicated the government will give the royal commission more time if needed, but no such request has been made.
Mr Shorten said the commission had done an excellent job within an "incredibly short" time frame.
But he is urging the prime minister to change the commission's deadlines so the financial sector can work through changes and recommendations.
The final report is due to be delivered in four months time on February 1.
In a joint statement with his shadow treasurer and financial services spokeswoman, Mr Shorten said it was now "beyond doubt" the commission did not have enough time to do its job properly.
"We believe this is a once in a generation opportunity for reform. But we'll only get that if the commission has time to consult properly on specific proposals," he said on Sunday.
