'Tell PTSB to end cashback mortgages' before go-ahead to take €7.6bn loans from Ulster Bank

The CCPC is involved in an unprecedented activity into Irish banks after both Ulster, the No 3 general lender, and KBC, a significant mortgage bank, announced plans to exit Ireland

Permanent TSB said it was "not appropriate to comment" on individual submissions, and that Ulster customers "will be offered competitive products and services".

Consumer advocate Brendan Burgess said Permanent TSB (PTSB) should be free to acquire €7.6bn in loans from Ulster Bank, as long as it gets rid of cashback mortgages and treats new and existing customers in the same way. 

In a submission to the Competition and Consumer Protection Commission, the founder of the Askaboutmoney website said the watchdog need not impose any new major restrictions as long as it bans Permanent TSB from what he said were longstanding consumer-unfriendly practices.