1. Short title This Act may be cited as the Eliminating Corporate Shadow Banking Act of 2019 . 2. Industrial bank holding company regulation (a) Definitions Section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841) is amended— (1) in subsection (c)(2), by redesignating subparagraph (H) as subsection (r), moving that subsection to appear after subsection (q), and adjusting the margins accordingly; (2) in subsection (r), as so redesignated— (A) by striking (r) An industrial and inserting the following: (r) Industrial bank The term industrial bank means an industrial ; and (B) in the flush text following subparagraph (B), by striking subparagraph and inserting subsection ; and (3) by adding at the end the following: (s) Covered industrial bank holding company The term covered industrial bank holding company means any company— (1) that, before October 1, 2019, controlled (as determined by the Board pursuant to subsection (a)), directly or indirectly, an industrial bank; (2) that did not acquire control of any other depository institution after October 1, 2019; (3) with respect to which there is no change in control, directly or indirectly, of any depository institution subsidiary after October 1, 2019, that requires a registration under this section or an application under section 7(j) or 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1817(j), 1828(c)), section 3 of this Act, or section 10 of the Home Owners’ Loan Act (12 U.S.C. 1467a); and (4) that was not— (A) a bank holding company; (B) a savings and loan holding company; (C) a company that is subject to this Act pursuant to section 8(a) of the International Banking Act of 1978 (12 U.S.C. 3106(a)); (D) a holding company regulated by the Securities and Exchange Commission pursuant to section 240.15c3–1(a)(7) of title 17, Code of Federal Regulations, as in effect on August 1, 2019