HB 1913 would create a new lending instrument called a “small loan,” for which lenders could charge up to 17 percent interest per month — or 204 percent annually. Borrowers would not be able to owe more than $1,500 in principal to all small lenders at any given time.

The bill passed 59-31 and now goes to the Senate.

Also Monday:

• Legislation that would drastically change the way boards and commissions operate passed over mild opposition from the Democratic minority.

HB 2316, by Speaker Charles McCall, R-Atoka, would allow the governor, House speaker and Senate president pro tem to hire and fire most board and commission members at will.

Currently, most board members can be replaced only for cause or when their terms expire. The stated intent of the policy is to protect agencies from political purges, but some have argued that it makes state government harder to manage.