JPMorgan Chase & Co. filed a motion for a preliminary agreement to settle an overdraft fee class action lawsuit brought in Miami federal court for $110 million. The agreement still must be approved by U.S. District Judge James Lawrence King. He is reviewed a consolidated complaint involving dozens of banks that were accused to processing the largest transactions first, instead of recording them in chronological order, to maximum overdraft fees to depositors. JPMorgan Chase (NYSE: JPM) is the second largest bank in Arizona in terms of deposits with more than %14...

The Arizona Commerce Authority is getting more interest in its Innovation Challenge, as the contest has drawn more than 300 applications, roughly triple what was submitted during the first one held last year. The ACA announced the new contest in January, with plans to run a version twice a year and putting $3 million into the hands of local startups. The first contest this year will dole out about $1.5 million to companies. The ACA hopes to fund between six and 15 companies with money ranging from $100,000 to $250,000 for each venture...

The Phoenix metro area ranks No. 96 out of the nation’s top 100 in terms of private-sector employment levels during the past five years as the city is still mired in job losses piled up during the Great Recession. The analysis by Bizjournals.com On Numbers of U.S. Bureau of Labor Statistics found only 13 of the top 100 U.S. metro areas had regained the jobs they lost. The analysis looked at job levels starting in 2006, a year before the recession started and the high point for many of the regions' job numbers...

Solar industry job figures have always been tough to find, but a new study released Tuesday by Elliott D. Pollack and Co. pegs the state’s nascent industry as providing about $2 billion to the economy and touching about 16,000 jobs. The study, to be discussed at the Renewable Economic Summit and Conference developed by the Pinal Partnership and Arizona Forward, found the industry has two segments: the operating companies, such as manufacturers and installers; and the construction side. Getting a feel for how many jobs are in the sector is difficult because the construction jobs tend to wax and wane as new projects are built, said Rick Merritt, president of Pollack and Co...

Public relations guru Jason Rose and Scottsdale architect Doug Sydnor are promoting an idea to create an elevated park along the McDowell Road corridor in Scottsdale. Details of the potential plan will be unveiled at a town hall meeting Wednesday at SkySong, 1475 N. Scottsdale Road, Suite 200. The presentation starts at 6 p.m. Rose hatched the idea after a visit to New York City where he experienced the High-Line Trail, an elevated park that runs through Chelsea. The McDowell Road park, as proposed, would run from Papago Park on the west to Indian Bend Wash on the east...

This week’s edition of the Phoenix Business Journal, due out Friday, is ranking the Phoenix area’s largest law firms by number of attorneys practicing in Maricopa County. Fifth on the list was Lewis and Roca LLP, a downtown Phoenix firm with 98 attorneys practicing locally. Fourth on the list, with 99 attorneys, was another downtown Phoenix firm, Quarles & Brady LLP. The sneak peek at the rest of the top five continues on Wednesday, Feb. 8. The law firms list, along with the list of management consultants, is available to subscribers...

Pompano Beach, Fla.-based YouFit Health Club is expanding in the Valley. Founder Rick Berks has opened two facilities in the Valley and plans to open another six to eight across the region this year, including one in Chandler next month. Each facility costs about $1 million. Half of those costs come from fitness equipment, which is financed short term, he said. The other half is financed from his “personal funds.” Berks founded Planet Fitness in 1993 and sold it to a New Hampshire group in 2002...

A nonprofit aimed at helping youth avoid violence has received a $100,000 grant from the the Herberger Family Foundation and Judd and Billie Jo Herberger. Robert Miley, founder and executive director of Release The Fear, said the grant will carry the program to more youngsters. “This just opens up so many possibilities. The thing that makes me feel really small inside is that we will be able to deliver more programs to these children that desperately need it,” Miley said. The group was founded 16 years ago with a mission to counter the effects of violence and provide youngsters ways to effectively communicate emotions of fear and anger...

Raytheon was awarded a $39.6 million contract from the U.S. Navy for this year to produce a version of an air-to-air missile carried aboard fighter aircraft. The contract, to be carried out at Raytheon (NYSE: RTN) in Tucson, is for the AIM-9X Block II missile and is a modification of a contract announced at the end of January. The missile, known as the Sidewinder, is equipped on the F/A-18 Hornet, the F-15 Eagle and the F-16 Fighting Falcon, such as those that train at Luke Air Force Base in Glendale...

The Ahwatukee Chamber of Commerce recognized businesses and individuals who contribute to the business and local community as part of its annual 2011 Chamber Day of Champion Awards. More than 150 business leaders and elected officials, including Phoenix Mayor Greg Stanton, attended the Friday morning breakfast at the Arizona Grand Resort in Phoenix. The recipients included: • 2011 Business of the Year: SanTan Ford • 2011 New Business of the Year: Spinato’s Pizzeria • 2011 Volunteer of the Year: Darla Salem • 2011 Educational Mentor of the Year: Stephen Heiser, Mountain Pointe High School • 2011 Spirit of Ahwatukee Award: Martha Neese, Von Hanson’s Meats and Spirits Those selected are members of the chamber, were nominated by other chamber members and were then evaluated in each category by a panel of judges...

A memorial service for Dr. Lawrence and Glenna Shapiro is set for 1 p.m. today at the Orpheum Theatre in downtown Phoenix. The couple, who celebrated their 50th wedding anniversary in 2010, died Jan. 30 at their home in Paradise Valley. They were involved in many local groups, including the Arizona Opera. Glenna Shapiro was on the Arizona Opera board for nearly 15 years, heading the Opera Ball committee last season. The couple attended every opening night performance of each opera. To honor the Shapiros’ memory, the Arizona Opera rented the Orpheum Theatre for the memorial service...

Walt Disney Co. (NYSE: DIS) and its ABC News arm are talking to Univision Communications about starting a new 24-hour cable channel to target U.S. Hispanics with news broadcasts in English, The Wall Street Journal reports. The move would be a strategic shift for Univision, known for its Spanish-language broadcasts. The new channel also would pit ABC News against others in cable-news competition including Fox News, CNN and MSNBC. The new network would be based in Miami. Univision gets strong ratings in the Hispanic-heavy Phoenix market.

The Boeing Co. will get nearly $1.8 billion to build C-17 airplanes for India. The Defense Department announced the award, which includes delivery of 10 aircraft for the Indian Air Force during the next two years. Boeing (NYSE: BA) makes helicopters in Mesa and Arizona has a signficant aerospace and defense supply chain. The airplanes will be built mostly in Long Beach, Calif.. Click here for a slideshow of Top 10 foreign buyers of U.S. weapons. Click here for a slideshow of Top 20 global arms exporters.

Bloomberg reports Bank of America (NYSE: BAC) could sell all of the office property it owns except for its principal offices in Charlotte and New York. The news follows the bank's announcement last week that it will sell the Hearst Tower and Fifth Third Center in Charlotte, a story the Charlotte Business Journal reported in October. “We are currently reviewing all of our properties across our portfolio, with the exception of Bank of America Corporate Center in Charlotte and Bank of America Tower at One Bryant Park” in Manhattan, Kelli Raulerson, a spokeswoman, told Bloomberg on Friday...

A federal judge on Monday approved class-action status for a lawsuit by Bank of America investors over the bank's 2008 purchase of Merrill Lynch, the San Francisco Business Times reports. The suit accuses the bank and some of its senior executives and directors of fraudulently misleading them about the 2008 takeover of Merrill Lynch, and takes issue with the size of Merrill Lynch's losses and bonus payments at the time. Class-action status increases the likelihood of a substantial award if shareholders win the suit...

Banks are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe, Bloomberg News reported. Lenders have routinely blocked such transactions, known as short sales, in which they accept less from a buyer than the seller’s outstanding loan. But now banks have decided the deals are faster and less costly than foreclosures. Underwater and distressed mortgages continue to be prevalent in the Phoenix and Pinal County housing markets.

The Gila River Indian Community votes today on a proposed extension of Loop 202 freeway south and east of Phoenix. KSAZ-TV Fox 10's MyFoxPhoenix.com reports on the tribe's vote and the freeway plan.

Downtown Phoenix business leaders and executives recognized those helping to remake the city’s core at the 18th annual DREAMR Awards held Monday. Those receiving an award on Monday included: • Project/program award: Civic Space Park • Public sector individual award: Phoenix City Councilman Michael Johnson • Private sector individual award: Mike Ebert, founder of RED Development • Outstanding organization award: Arizona Diamondbacks • Unsung hero award: Phoenix Police Department Lt...

The latest push to allow guns on college campuses is making progress at the Arizona Legislature. The guns on campus bill is backed by some 2nd Amendment backers but stirs worry at colleges. Click below for more details.

KJZZ-FM in Phoenix looks at the life and charitable works of Virgina G. Piper and her ties to Motorola and Arizona philanthropic causes.