So it goes ...
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Right its just called the New Testament.
This seems cart before the horse thinking, unless I've got it wrong?
The Catholics gathered a collection of writings regarded as canonical long before the Protestants came along. A collection in which books were added and discarded along the way in the early centuries, and which was formalised in the face of the Protestant Reformation.
It was the Protestants who rejected the traditional NT, eg poor Martin Luther who, tormented by his conviction that no one was deserving of God's favour. In desperation, he 'discovered' a theology of grace in St Paul's Letter to the Romans, by which justification was an undeserved gift from God.
From then on Luther saw "justification by faith alone" everywhere and determined that 'good works' was an illusion and a waste of time, as something essentially rotten cannot do good. Trouble was, James absolutely insists that faith alone is not sufficient for salvation (after all, the demons believed Jesus was the Son of God, so they should be top of the list!).
So Luther famously declared James "that right strawey epistle", meaning its conclusions were vague and uncertain. But he did question its place in the Canon.
If you mean Catholics believe in the NT as Protestants do, then you can't say that as Protestants don't even agree among themselves. As a Catholic, I use the materials of N.T. Wright and J.D.G. Dunn (both Protestant), but I don't use Jesus Seminar stuff ...