"The FCC privacy framework adopted just last October was a sharp departure from the FTC's innovation-friendly, flexible guidelines that have overseen a successful burgeoning of the Internet."
Translation: caring about the privacy of our customers eats into our profits and the FCC should care more about ISPs making money than protecting customers.
Regulations - at least conceptually - act as a limitation on unfettered capitalism. The goal of capitalism is for every person and company to go and make as much money as they can. This is not a bad idea, but the necessary downside of viewing profit as the highest goal is that every other concern is secondary. That's what prioritising one thing over all others means.
Regulations should be there to force corporations to behave in a more social manner. A purely capitalist factory would, without regulations, simply dump all waste - however toxic - wherever it was cheapest, including into drinking water supplies. This is, clearly, not conducive to the long-term well-being of society.
Privacy regulations are required because, without being forced, capitalist corporations have no incentive to value the privacy of their customers. It costs them money to do so and potentially prevents them opening new revenue streams from exploiting that data.
What Doug Brake is saying is that the regulations force them to respect privacy more than they want to and, if they had it their way, they would value customer privacy less. Oh, but they're totally pro-consumer and are just paragons of trust and privacy protection. Uh huh.