; and (C) the identity of the person or office from which the statement of reasons described in paragraph (2) may be obtained. (2) Statement of reasons (A) In general Each applicant against which an adverse action is taken shall be entitled to a written statement from the applicable ISA provider regarding the specific reasons for that adverse action, if the request is made by the applicant not later than 60 days after receiving the notice of an adverse action under paragraph (1). (B) Timing An ISA provider shall provide an applicant with the statement of reasons under subparagraph (A) by the date that is not more than 30 days after the date of the consumer's request. (C) Oral statement Notwithstanding subparagraph (A), the statement described in this paragraph may be provided orally if the oral notification advises the applicable applicant of the right of the applicant to have the statement of reasons confirmed in writing, upon written request by the applicant. (D) Third-party request If a third party requests that an ISA provider make a specific extension of an income share agreement directly or indirectly to an applicant, the statement under this paragraph may be made directly by the ISA provider, or indirectly through the third party, if the identity of the ISA provider is disclosed. (E) Verbal statements The requirements of this paragraph may be satisfied by a verbal statement or notification in the case of an ISA provider that acted on not more than 150 applications during the calendar year preceding the calendar year in which the applicable adverse action is taken, as determined under regulations of the Bureau. (e) Regulations (1) In general (A) Issuance of regulations The Bureau shall prescribe regulations to carry out the purposes of this section. (B) Contents The regulations prescribed under subparagraph (A) may contain such classifications, differentiation, or other provisions, and may provide for such adjustments for any class of transactions, as in the judgment of the Bureau are necessary or proper to