We call this wiring “modern” because Fender didn’t start out wiring Teles this way. In fact, there were a couple of different circuits used in the Tele’s first 17 or so years, neither of which is familiar to most younger Tele players. Fender finally settled on the wiring shown on this page in 1967, well after the January ‘65 purchase of the company by CBS. However, once finally adopted, it has become the standard wiring for Teles. It’s used almost universally by Fender for current Tele production, and even some of the vintage reissue guitars - such as the Classic Series ‘50s Tele - feature this wiring.
Modern wiring consists of a 3-way switch, with a master volume and a master tone. The available pickup combinations are:
Players with reverse-wound, reverse-polarity pickups receive the benefit of hum-cancellation in position 2.