Look at sections 107 and 108, the fair use and Reproduction by Libraries and archives sections.
https://www.copyright.gov/title17/92chap1.html#107
In addition there is the DMCA to be considered. Every 3 years, the US copyrights office considers adding exceptions to the restrictions provided by the DMCA.
https://www.eff.org/issues/dmca-rulemaking
It is at least theoretically possible for the US Copyright office to grant libraries an exemption both of copyright violation and bypassing the DRM via a DMCA exemption.
The US has long granted very broad exemptions to libraries, researchers and teachers.