Arco

FACTS

On August 7, 2014, Arco filed a complaint (Original Complaint) against OneWest alleging the following causes of action: (1) libel; (2) intentional interference with prospective economic relations; (3) negligent interference with prospective economic relations; (4) intentional interference with contractual relationships; and (5) negligent interference with contractual relationships. The facts, as alleged by Arco, can be succinctly stated as follows: In 2010, OneWest, in retaliation for Arco’s attempt to save his home from foreclosure, erroneously reported to credit agencies that Arco had suffered four foreclosures, which damaged his personal and business credit, hamstrung his business, and forced him to relinquish his majority ownership stake in his business.1 OneWest filed a demurrer, arguing the federal Fair Credit Reporting Act (FCRA; 15 U.S.C. § 1681 et seq.), preempted Arco’s claims and the statutes of limitations had run. Arco filed opposition to the demurrer. OneWest filed a reply to the opposition. The trial court sustained the demurrer with leave to amend based on applicable statutes of limitations, declining to address the federal preemption argument based on the…