; (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; and (IV) any other cost of the proposed transaction or activity that the Board considers pursuant to this paragraph. . 4. Community Reinvestment Act performance (a) Insured depository institutions Section 18(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1828(c) ), as amended by section 3, is further amended by adding at the end the following new paragraphs: (15) Community Reinvestment Act performance The responsible agency shall not approve a proposed merger transaction under this section if the largest insured depository institution that is party to such transaction, based on a comparison of the average total risk-weighted assets controlled by each insured depository institution that is party to such transaction during the previous 12-month period, has received a rating lower than outstanding record of meeting community credit needs on— (A) two out of the three most recent written evaluations required under section 807 of the Community Reinvestment Act of 1977 ( 12 U.S.C. 2906 ); or (B) if three such evaluations are not available, the most recent written evaluation required under such section. (16) Community benefits plan (A) In general In reviewing any application filed under this paragraph, the responsible agency shall require— (i) submission to the appropriate Federal financial supervisory agency of a community benefits plan; (ii) that the insured depository institution consult with community-based organizations and other community stakeholders in developing the community benefits plan