Bank of America Corp. extended $600 billion in credit last year, according to a letter to shareholders in the company’s annual report, the Charlotte Business Journal reported. CEO Kenneth Lewis did not disclose how much credit the bank extended in 2007, but said lending volume is not what it was “at the height of the boom.” Bank of America has received $45 billion from the government’s Troubled Asset Relief Program. According to Lewis’ letter, Bank of America extended $932 billion in loans and leases last year, up from $876 billion in 2007. Total deposits increased to $883 billion from $805.2 billion.

Wells Fargo & Co. said it extended $51 billion in loans and loan commitments in January, bringing its total credit extension to $144 billion in the past four months. Its lending activity includes $24 billion in home mortgage originations, $6 billion in consumer loan originations, $14 billion in commercial loan renewals and $7 billion in new commercial loan commitments. The bank has received $25 billion from the government’s Troubled Asset Relief Program. January’s figures are part of a monthly update to the U.S. Treasury Department for participation in that program. Click here to see the complete report.

The Iowa Council for International Understanding will host a workshop on “Getting the Most from Translation and Interpretation Services” on March 27 from 1:30 to 4 p.m. at Des Moines Area Community College’s Urban campus, 1100 Seventh St., Des Moines. Learn more about this free event at www.iciu.org.

E.I. du Pont de Nemours & Co. and Denmark-based Danisco A/S said yesterday that they expect to start commercial-scale production of cellulosic ethanol next year, Reuters reported. Last May, the two companies formed a joint venture to combine DuPont’s fermentation and pre-treatment technologies with Danisco’s enzymes technology. Now the companies say their cellulosic ethanol demonstration plant in Tennessee has the design and size to show economic sustainability on the commercial scale by 2010. The U.S. government has set a standard for 100 million gallons of cellulosic fuel to be blended into gasoline next year. DuPont is the parent company of Johnston-based Pioneer Hi-Bred International Inc.

General Growth Properties Inc. has laid off some of its top management in an effort to cut costs and restructure the organization as it negotiates with lenders for more time to pay billions in debt, The Wall Street Journal reported. Among those leaving the company this week are Jean Schlemmer, chief development officer, Alex Berman, senior vice president of the international division, Judy Herbst, human resources chief, and Tim Goebel, director of investor relations. These are the latest changes Adam Metz and Thomas Nolan have implemented since they took over as General Growth’s CEO and president, respectively, last October. The owner of Jordan Creek Town Center faces a critical deadline today. By 5 p.m. the majority of its bondholders must agree to refrain from asking for payments this year on $2.25 billion in bonds. Otherwise, General Growth could file for bankruptcy.