glColor3f modifying texture alpha

I’ve made a font that uses billboarding to render an arbitrary texture color transparent. The white letters display perfectly using this blend function: glBlendFunc(GL_SRC_ALPHA, GL_ONE_MINUS_SRC_ALPHA);. However, when I use glColor3f or glColor4f to change the color of the white text, the background portion of each letter stops being transparent. Regardless of what color I change the text to, each letter’s background color remains the same as my glClearColor setting. Its just no longer transparent like it should be.

I’ve tried pushing and popping the attribute stack, as well as changing the texture envelope to GL_REPLACE. Any ideas?