Last week, the FTC said the 147 million consumers impacted by the Equifax hack and leak would be eligible for a $125 cash payout as part of a settlement with the credit reporting giant. This week, the FTC abruptly backtracked, insisting that because the public's interest in the money was somehow "unexpected," most victims would never actually see these funds.

Experts say the sudden about face illustrates the flimsy nature of the settlement, and an agency that's failing to take consumer outrage over repeated privacy violations seriously.

As part of the $575 million settlement, up to $425 million was set aside to compensate those who could clearly prove they were victims of identity theft as a result of the breach.