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They offer an opt-out process that suspends lending completely.That's not how copyright works in the US. Maybe it should be, but it's not. The owner of a copyright gets to say how it's used, they don't merely have a right to refuse to uses if they're aware of them.
There are certain exceptions, such as compulsory licensing (e.g., in the US you can get a license to cover a song at a fixed-by-law rate) and fair use, but those aren't opt-out mechanisms either - those are permissions that the copyright holder can't refuse.
Maybe it should, but the law doesn't work that way right now.
> If we're going to talk about the alleged illegality of a controlled process for sharing data, I'd like to start with ad-tracking, since that clearly affects a larger group of people and because its legality seems to rest on a similar premise (at least, to this layman).
Copyright doesn't protect data, it protects the creative expression of ideas. Data itself isn't copyrightable: https://en.wikipedia.org/wiki/Feist_Publications,_Inc.,_v._R.... Therefore, nobody is infringing any copyright I have by tracking my behavior via ads.
Maybe it should (or maybe copyright shouldn't protect anything), but the law doesn't work that way right now.