; (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; and (iv) any other cost of the proposed merger transaction that the responsible agency considers pursuant to this subsection. . (b) Bank holding companies (1) Proposed acquisitions, mergers, or consolidations Section 3(c) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1842(c) ) is amended by adding at the end the following new paragraph: (8) Analysis of costs and benefits (A) In general The Board may not approve an application under this section unless the Board determines that the public benefits of the proposed transaction outweigh the expected costs. (B) 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 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; (iii) the probable effect of the proposed transaction on relevant local economies, including employment losses relating to branch closures and impacts on job quality