As they are now formulated by most Protestants. Not in their origins.
The Catholic Church teaches that faith informed by love justifies, and that faith is necessary for justification. Pope Benedict reiterated what Catholics have always believed when he said “Luther’s phrase: ‘faith alone’ is true, if it is not opposed to faith in charity, in love.” What the Catholic Church rejects are later understandings of
sola fide that claim faith does not need to be informed by charity, that faith
without love can justify.
If you really want to dig deeper into this, I would heartily recommend the articles and blog posts by Bryan Cross on Called to Communion (e.g.
here and
here), and the lovely book
The Spirit & Forms of Protestantism by Louis Bouyer.
We do not accept formulations of
sola scriptura which overtly deny sacred tradition and the authority of the magisterium, but we do believe that scripture is divinely inspired in a way that the magisterium is not. Many Catholics accept a kind of
prima scriptura position, and it is acceptable within Catholicism to believe in the
material sufficiency of scripture. This is the original root of the Reformers’
sola scriptura, as Louis Bouyer aptly points out: “Luther’s insistence on the Bible and its supreme authority did not… signify to him or to [contemporary] Protestants in general a denial of tradition or of the authority of the Church.” It is later formulations that become increasingly problematic, not the root.
From a Catholic perspective, this is a false dichotomy: the saints are living members of Jesus’ own Body. Even Protestants do not interpret this doctrine to mean that they cannot pray for one another.
The Catholic Church also teaches that we have a responsibility to receive and live according to God’s grace inasmuch as we are able. A Catholic adult cannot say “Well, I was baptized as an infant, so I do not have to be faithful now.” Every moment is a moment in which we are called to conversion, every moment is an opportunity to say “yes” to God.
It is, actually, we just believe differently about it than do Calvinists. We believe that all humans are created in, by, and for life in Jesus Christ, that all human beings are unconditionally chosen by God for participation by grace in the life of the holy Trinity. Calvinists believe only a few are so chosen and that it is impossible for the elect not to be saved; that’s where we differ with them.