There is. Here are the steps
1. Start with a project that has a text object that has multiple lines of text
2. Select the text object, right click, and choose Convert to Component > Scroll Panel
The scroll panel won't work correctly yet because you need to tell catalyst what part scrolls and a scrollbar needs to be added
3. Double click the scroll panel you just created to edit it (this enters edit in place). You will now find that the text object is inside the scroll panel
4. Select the text, right click, and choose Convert Artwork to Scroll Panel Part > Scrolling content
A bounding box with a light gray inner glow will apear around the text. This square defines the scrolling area you will see. This area needs to be smaller than the content in order to scroll.
5. Drag the lower right handle of the bounding box upward so that the scrolling content is shorter than the text.
Now we need to add a scrollbar...
6. In the Wireframe Components Panel (next to Library and Layers) drag out a vertical scrollbar and place it next to the scrolling content
7. Double-click a blank part of the artboard to exit edit in place.
8. Run the app
Here is the structure you have built:
Scroll Panel component
Scrolling Content part
Vertical Scroll bar component
I've attached a sample file. Download the file and rename the file suffix ".txt" back to ".fxp" since this forum disallows .fxp files.