Coming on the heels of the SEC's issuance earlier this month of mutual fund trustee independence rules, the occasion of the new president's inauguration has raised a new question about trustee independence.

Since 1994, Lynne Cheney, wife of vice-president Richard Cheney, has served as one of the independent trustees of the 17-member board of directors of American Express Funds of Minneapolis, Minn., formerly known as the IDS Funds family.

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