I asked this question when I took my extra exam and was told it wasn't legal below 29 MHz because the wide bandwidth even on narrow band FM so it is reserved for the upper portion of the band.
Here is the band plan for our area which is region 2 showing what modes to be used within each band.
Notice throughout the band plan you see "all modes" in some of the blocks. I even see "all modes" on 60 meters which we know is a USB specific band with specific rules on ERP and center frequency that I find it hard to believe FM would be legal there unless you can narrow it down to 2.7 KHz. I think some more research on this to find out for sure since this raises a question what 'ALL MODES' means here. But for sure, the CB band is limited to AM/SSB modes.
Try calling on 20 meters using FM and see if people don't jump all over you for it.
People get bent out of shape when we use AM on the lower frequencies. Even used legally FM would give them a stroke. I really should look into this more. If it is legal we can start switching to legal limit FM when the slop bucket operators park next to us trying to run us off the band. Not to piss them off but to overcome the QRM and continue to use the frequency.