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It's important to consider the origin of the term.
Among conservative protestant evangelicals in the late 19th and early 20th Centuries, a movement arose to resist a perceived, encroaching "modernism," particularly in seminaries and universities, which sought to find a way to integrate Christian spiritual teaching with the insights of the sciences, and of new approaches to history and literary criticism. The origin of the term "fundamentalist" comes from a position paper adopted by the General Assembly of the Presbyterian Church in 1910, which set forth what they considered to be the five defining, or fundamental, beliefs of the Christian faith. They were: (1) the literal inerrancy of the Bible, including the doctrine of Sola Scriptura, which holds that the Bible contained all things necessary to salvation and that it was the Christian faith's primary source of authority to which all other sources of authority were to be subject; (2) a literal belief in the virgin birth of Jesus, (3) the doctrine of substitutionary atonement, (4) the bodily resurrection of Jesus, and (5) the imminent personal return of Jesus.
I think it's pretty safe to say that there are some glaring conflicts with Roman Catholic doctrine. The Roman Catholic Church by that time had long since abandoned the concept of the literal inerrancy of the Bible, and viewed the Church, not the Bible, as the primary source of authority for Christians. But over time, the term has broadened, and while still primarily referring to Christian evangelicals, it is sometimes used in describing other groups who are seen as rigidly adhering to a particular set of religious writings and allowing for no flexibility for interpreting them through the lens of a modern context. Thus we now hear references to "fundamentalist Islam," for example.
I think, when people try to use the terms to describe Roman Catholics, what they are really talking about is a strain of very conservative, inflexible legalism that exists in some corners of the Roman Catholic Church. These folks are indeed quite rigid in their beliefs and their approach, not unlike protestant fundamentalists, but if you are going to use "fundamentalist" to describe them, it's probably a good idea to be aware that they are distinct from those who are traditionally called by that term.
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