I'm going to post some selections from Ludwig Ott's Fundamentals of Catholic Dogma. It's sorta like a textbook of Latin theology from the pre-Vatican II days, and so the claim that this departs from the "traditional" Latin teaching (the way the CCC is claimed to have done) is a non-issue. I hope this helps the conversation.
This is from p.110:
1. False Views
a) The view of Peter Abelard that Original Sin consists in eternal punishment ("reatus poenae aeternae") is false. According to the teaching of the Council of Trent, Original sin is a true and proper sin, that is, a guilt of sin. Cf. Denzinger 376, 789, 792...
b) Original Sin does not consist, as the Reformers, the Baians, and the Jansenists taught, in: "The habitual concupiscence, which remains, even in the baptised, a true and proper sin, but is no longer reckoned for punishment." The Council of Trent teaches that through Baptism everything is taken away which is a true and proper sin, and that the concupiscence which remains behind after Baptism for the moral proving is called sin in an improper sense only. D 792...
c) Original Sin does not consist, as, among others, Albert Pighius (+1542) and Ambrosius Catharinus, O.P. (+1553) taught, in a mere external imputation of the sinful deed of Adam (imputation theory). According to the teaching of the Council of Trent, Adam's sin is transferred by inheritance to all the children of Adam, and exists as his own proper sin in every single one of them: propagatione, non imitatione transfusum omnibus, inest unicuique proprium. D 790. Cf. D 795. Propriam iniustitiam contrahunt. According to the teaching of the Council of Trent, the efficacy of baptism consists in a real eradication of sin, not in a mere non-imputation of an alien guilt. D 792...
2. Positive Solution
Original sin consists in the deprivation of grace caused by the free act of sin committed by the head of the race. (Sent. communis.)
a) The Council of Trent defined Original Sin as the death of the soul (mors animae: D 789). The death of the soul is, however, the absence [not-being-present] of supernatural life, that is, of sanctifying grace. In Baptism Original Sin is eradicated through the infusion of sanctifying grace (D 792). It follows from this that Original Sin is a condition of being deprived of grace. This flows from the Pauline contrast between sin proceeding from Adam and justice proceeding from Christ (Rom. 5.19). As the justice bestowed by Christ consists formally in sanctifying grace (D 799) so the sin inherited from Adam consists formally in the lack of sanctifying grace. The lack of sanctifying grace, which, according to the will of God, should be present, establishes that the guilt of Original Sin signifies a turning away from God.
As the ratio voluntarii, that is the free incurring of guilt, belongs to the concept of formal sin, and as a young child cannot perform a personal voluntary act, in original sin, the factor of spontaneity must be explained from its connection with Adam's deed of sin. Adam was the representative of the whole human race. On his voluntary decision depended the preservation or the loss of the supernatural endowment, which was a gift, not to him personally but, to human nature as such. His transgression was, therefore, the transgression of the whole human race. Pope Pius V rejected the assertion of Baius, that Original Sin had the character of sin in itself without any reference to the will from which it sprung. D 1047. Cf. St. Augustine, Retract. I 12 (13), 5. S. th. I II 81, 1.