Renters in California will no longer be asked for a security deposit larger than one month's rent, under a bill signed into law by Gov. Gavin Newsom.

The governor signed Assembly Bill 12 by Assemblymember Matt Haney (D-San Francisco). According to Haney, the measure would stop the practice among certain landlords to charge two or even three times the monthly rent as a security deposit."

Source: CBS News Bay Area