It was recently said by a Roman Catholic theologian that James 2:14-26 alone proves that the Reformers idea that salvation by faith alone in Christ alone was a terrible error. Roman Catholicism teaches that it is faith accompanied by works that brings salvation, and James seems to show this to be so. This really is a difficult portion of Scripture, but it is most likely that James is not talking about the matter of justification by faith.
The previous message covering James 1:19-27 can be found here: The Bible Saves My Soul — or Does It?