With Senate GOP Leader Mitch McConnell, R-Ky., saying bipartisan talks have resumed, Republicans on Tuesday seemed to soften opposition to a financial reform bill.

Saying it provides for "endless bailouts" of failed financial institutions, McConnell and other Republican leaders have opposed the measure, even though Democrats note the measure specifically bans bailouts.

"Both parties agree on this point: no bailouts. In my view, that's a pretty good start," McConnell said on Tuesday.

The Washington Post has reported that speaking on the floor of the Senate, McConnell said he was "heartened to hear that bipartisan talks have resumed in earnest" on the legislation.

The newspaper further said that McConnell has also urged lawmakers to get past "personal attacks and questioning each others' motives" and work on "fixing the problems in this bill."

He reportedly said, "I'm convinced now that there is a new element of seriousness attached to this, rather than just trying to score political points."

Democrats "don't stand in the way of" more negotiations, Senate Majority Leader Harry Reid, D- Nev., said in a statement.

Democrats are willing to negotiate with Republicans on what has become a contentious feature of the bill -- a $50 billion fund to be contributed by financial institutions and to be used to cover so-called burial costs for institutions that fail, Reid told reporters. (With Inputs from Agencies)