; and (2) deny such application if the resulting institution would not have adequate systems in place to ensure compliance with the Federal consumer financial laws. (d) Covered applicant defined In this section, the term covered applicant means an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 )) or a depository institution holding company (as defined in such section) with more than $10,000,000,000 in total assets. 3. Cost-benefit analysis for merger transactions (a) Insured depository institutions Section 18(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1828(c) ) is amended by adding at the end the following new paragraph: (14) Analysis of costs and benefits (A) In general The responsible agency shall not approve any proposed merger transaction under this subsection unless the responsible agency determines that the public benefits of the merger transaction outweigh the expected costs. (B) Evaluation In evaluating the expected costs of the proposed merger transaction under subparagraph (A), the responsible agency shall consider— (i) the probable effect of the proposed merger transaction on the cost and availability of financial products and services; (ii) the probable effect of branch closures on customers of each bank or savings association involved in the proposed merger transaction; (iii) the probable effect of the proposed merger transaction on relevant local economies, including employment losses relating to branch closures and impacts on job quality