Unfortunately, this is kind of a red herring. There are a few places in the telecommunications act that require the FCC to fine for indecency/obscene material. Cable operators themselves, for example, are not responsible for channels that display obscene material - the original transmitter is. That's under Title VI (cable communications) and Title III (radio and television).
Title II is all about common carrier status. Cable television, broadcast radio, and broadcast television are not common carriers, and Title II does not give the FCC either the requirement or permission to fine or censor obscene content. Neither does it give ISPs the requirement or permission to censor obscene content.
As Title II has been interpreted by courts, you are actually _more_ protected from internet censorship if they are considered Title II common carriers.
They can't terminate based on suspicion of unlawful use; there must be evidence:
* Shillitani v. Valentine, 53 NYS 2d 127 (1945); "a telephone company may not refuse to furnish service and facilities because of a mere suspicion or mere belief that they may be or are being used for an illegitimate end; more is required."
* Nadel v NY Tel., 170 NYS2d 95 (1957); carrier suspected caller of using the telephone for illegal gambling transactions and terminated their service. Court ruled that service should be reinstated: the telephone company "is not at all qualified, in the absence of evidence of illegal use, to withhold from the petitioner, at will an essential and public utility."
They are not authorized to collect said evidence themselves (this could be interpreted to mean that, as a common carrier, ISPs are not allowed to read the contents of the packets that they transmit, only the headers -- like telephone numbers -- as needed to get the packet to its destination):
* People v. Brophy, 49 Cal.App.2d 15, at 33, 120 P2d 946, at 965; "public utilities and common carriers are not the censors of public or private morals, nor are they authorized or required to investigate or regulate the public or private conduct of those who seek service at their hands."
You, as an internet user, are not protected from those actions unless your ISP is classified as a Title II common carrier.