; (iii) the probable effect of the proposed transaction on relevant local economies, including employment losses relating to branch closures and impacts on job quality; and (iv) any other cost of the proposed transaction that the Board considers pursuant to this subsection. . (2) Other transactions or activities Section 4(j)(2) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1843(j)(2) ) is amended by adding at the end the following new subparagraph: (D) Analysis of costs and benefits (i) In general The Board shall deny a notice filed pursuant to this subsection unless the Board determines that the public benefits of the proposed transaction or activity described in the notice outweigh the expected costs. (ii) Evaluation In evaluating the expected costs of the proposed transaction under subparagraph (A), the Board shall consider— (I) the probable effect of the proposed transaction or activity on the cost and availability of financial products and services; (II) the probable effect of branch closures on customers of each company involved in the proposed transaction or activity; (III) the probable effect of the proposed transaction or activity on relevant local economies, including employment losses relating to branch closures and impacts on job quality