The Common Agreement was signed last night in Austin, Texas by members of both the Presbyterian Church USA and the U.S. Conference of Catholic Bishops, as well as the Christian Reformed Church of North America, the Reformed Church of America and the United Church of Christ.The PCUSA is the liberal wing of the Presbyterian church (they ordain ministers who deny the deity of Christ) and The Church of Christ has a lot of controversy surrounding it. They do not believe musical instruments should be used in church among other un-Biblical beliefs.
The Reform churches seem pretty straight forward Christian as far as I can see.
I don't see this as a great merging of Catholic and Protestant beliefs.
The majority of Protestant denominations are not included and the ones that are stray from Biblical Christianity.
Which is apparently the point of the agreement. Conservative Protestant denominations aren't the ones using heterodox baptismal formulas, etc., so there would never be any question that Catholics would consider their baptisms valid.
So liberal Prots and RC formally sanctions each other baptism. Fitting as the results seem to be much the same.
The CRNA states that all congregations in the Christian Reformed Church in North America may allow women to serve in the office of minister, elder, deacon, or ministry associate.
It states homosexualism (that is, explicit homosexual practice), however, is incompatible with obedience to the will of God as revealed in Scripture, but that homosexuals should be opportunities to serve within the offices and the life of the congregation should be afforded to them as to heterosexual Christians. http://www.crcna.org/welcome/beliefs/position-statements/homosexuality