It is false that Overdrive is removing the DRM. What is true is that they are changing the format to MP3, however it is false that the files will be DRM free. From http://t.co/esSRbNIAJj : “MP3 audiobooks are still being borrowed, and users are prompted to delete when the lending period is over. Titles still expire in the OverDrive app at the end of the lending period” and from Twitter: “@OverDriveLibs: once a title expires it shows you the jacket cover until u delete but u can’t listen anymore” and “@OverDriveLibs: this process is the same as it now with mp3 audiobooks we offer.”
TL;DR: The DRM stays, the format is changing to MP3, it is not a day to celebrate.