Abstract: A binder for receiving and retaining papers includes first and second strips slidably connected to one another. Each strip includes spaced-apart fingers extending upwardly therefrom. The fingers of the first and second strips are offset from one another when the first and second strips are in a closed position. The first and second strips include releasable locking catches to retain the strips in a closed position, and release tabs for selectively moving the second strip into the open position. A cover having living hinges is attached to a lower surface of the first strip. The cover may include pockets on an outer surface thereof for accepting inserts, such as file hangers or printed labels.