These regulations were necessary becasue the ISPs embarked on a new plan to squeeze content providers. They wanted to be paid both by the subscriber and by the content providers.
Actually, most of the content providers are subscribers. They pay their ISPs for access to the internet. Consumers of the content may be subscribers of different ISPs than the content they access. So content providers were providing content to subscribers on different ISPs. Initially, the ISPs saw this as increasing the potential market for their own subscribers, ISPs facilitated it by making "peering" arrangements with each other. These peering arrangements, at first, worked on the assumption that traffic between each pair was roughly equal in both directions. Then "super star" services came along, upsetting the balance of traffic. So, the providers on the receiving side of the "data deluge" decided they wanted to be paid for the imbalance.
Another issue is that the major ISPs, like Camcast and Time Warner, now own some of the major content providers. Naturally, each ISP wants to prioritize the content of the content providers it owns.