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Allowance for Credit Losses | 6 Months Ended
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Jun. 30, 2022
Receivables [Abstract] |
Allowance for Credit Losses | Allowance for Credit LossesWe measure our allowance for credit losses on accounts receivable under ASC 326, which primarily relates to our Technology Platform segment, and on loans measured at amortized cost, including credit card as well as commercial and consumer banking loans acquired in the Bank Merger. Given our methods of collecting funds on servicing receivables, our historical experience of infrequent write offs, and that we have not observed meaningful changes in our counterparties’ abilities to pay, we determined that the future exposure to credit losses on servicing related receivables was immaterial. The following table summarizes the activity in the balances of allowance for credit losses during the periods indicated:
| Accounts Receivable(1) |  | Credit Card(1) |  | Commercial and Consumer Banking(1)
Three Months Ended June 30, 2022 |  |  |  |  |
Balance at March 31, 2022 | $ | 1,652 |  |  | $ | 16,500 |  |  | $ | 1,366 |
Provision for credit losses(2) | 1,112 |  |  | 10,265 |  |  | (162) |
Write-offs charged against the allowance(3) | (44) |  |  | (4,791) |  |  | — |
Balance at June 30, 2022 | $ | 2,720 |  |  | $ | 21,974 |  |  | $ | 1,204 |
Three Months Ended June 30, 2021 |  |  |  |  |
Balance at March 31, 2021 | $ | 919 |  |  | $ | 171 |  |  | $ | — |
Provision for credit losses(2) | 645 |  |  | 526 |  |  | — |
Write-offs charged against the allowance | (334) |  |  | (6) |  |  | — |
Balance at June 30, 2021 | $ | 1,230 |  |  | $ | 691 |  |  | $ | — |
Six Months Ended June 30, 2022 |  |  |  |  |
Balance at December 31, 2021 | $ | 2,292 |  |  | $ | 7,037 |  |  | $ | — |
Provision for credit losses(2) | 521 |  |  | 22,242 |  |  | 822 |
Allowance for PCD loans(4) | — |  |  | — |  |  | 382 |
Write-offs charged against the allowance(3) | (93) |  |  | (7,305) |  |  | — |
Balance at June 30, 2022 | $ | 2,720 |  |  | $ | 21,974 |  |  | $ | 1,204 |
Six Months Ended June 30, 2021 |  |  |  |  |
Balance at December 31, 2020 | $ | 562 |  |  | $ | 219 |  |  | $ | — |
Provision for credit losses(2) | 1,780 |  |  | 526 |  |  | — |
Write-offs charged against the allowance | (1,112) |  |  | (54) |  |  | — |
Balance at June 30, 2021 | $ | 1,230 |  |  | $ | 691 |  |  | $ | — |
_____________________ (1)Accounts receivable balances, net of allowance for credit losses, are presented within other assets in the unaudited condensed consolidated balance sheets. Credit card and commercial and consumer banking loans measured at amortized cost, net of allowance for credit losses, are presented within loans in the unaudited condensed consolidated balance sheets. (2)The provision for credit losses on accounts receivable is presented within noninterest expense—general and administrative in the unaudited condensed consolidated statements of operations and comprehensive income (loss). During the three and six months ended June 30, 2022, recoveries of amounts previously reserved related to accounts receivable were $368 and $1,760, respectively. During the three and six months ended June 30, 2021, recoveries of amounts previously reserved related to accounts receivable were $199 and $746, respectively. The provision for credit losses on credit card and commercial and consumer banking loans is presented within noninterest expense—provision for credit losses. There were immaterial recoveries of credit card losses during the three and six months ended June 30, 2022 and 2021, and immaterial recoveries on the commercial and consumer banking portfolio through June 30, 2022. (3)The increases in credit card write-offs charged against the allowance during the three and six months ended June 30, 2022 were commensurate with our increased loan portfolio combined with elevated loss rates. (4)We measured a PCD allowance for the loans acquired in the Bank Merger upon acquisition, which resulted in a gross-up to the allowance for credit losses, but had no impact on earnings. Credit card: Accrued interest receivables written off during the three and six months ended June 30, 2022 were $834 and $1,285, respectively. Accrued interest receivables written off during the three and six months ended June 30, 2021 were immaterial.

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI https://asc.fasb.org/topic&trid=2196771 + Details
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- References No definition available. + Details
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