savings account The term qualified down payment savings account means an account maintained under a qualified down payment savings program. (f) Regulations Notwithstanding any other provision of this section, the Secretary, in consultation with the Chairman of the Securities and Exchange Commission, shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section and to prevent abuse of such purposes. Such regulations shall include— (1) impermissible investments for qualified down payment savings programs