In 2004 the U.S. Supreme Court granted certiorari on two cases regarding inclusion in income of contingent attorney's fees, Commissioner v. Banks and Commissioner v. Banaitis. 1) The courts of appeals were split on the issue of inclusion and had resolved their cases based on numerous theories,...

This paper studies the impact of financial inclusion on wealth accumulation. Exploiting the US interstate branching deregulation between 1994 and 2005, we find that an exogenous expansion of bank branches increases low-income household financial inclusion. We then show that financial inclusion...