Does France require this information for French citizens who no longer live in France, but moved to (for example) the United States 20 years ago?
Or, as in the case of a former partner of mine: She was born in the US, from Belgian parents who worked there for a few monhts, then moved to Belgium before her first birthday. When FACTA came into play she was in her thirties, and suddenly all banks were required to submit information about her to the US. Some (Belgian) banks told her they would cancel all services as long as she remained a US citizen.