May 14 (Reuters) - The Canadian House of Commons finance committee said it will hold a meeting on Friday to discuss recent allegations related to drug traffickers laundering money at TD Bank.

A U.S. Department of Justice investigation into TD Bank was focused on how Chinese drug traffickers and crime groups used Canada's second-largest lender to launder their money from fentanyl sales, the Wall Street Journal reported earlier this month.

Five members of the finance committee requested to discuss recent revelations regarding TD Bank and allegations of failing to report money laundering related to trafficking of fentanyl, the House of Commons committee said on Tuesday.

TD Bank earlier this month said that a comprehensive overhaul of its U.S. and global anti-money laundering (AML) program was underway, following regulatory probes over its AML compliance program.

In April, TD Bank CEO Bharat Masrani acknowledged that the bank's AML compliance program was not up to the mark and the DoJ's probe was still ongoing. (Reporting by Juby Babu in Mexico City; Editing by Shounak Dasgupta)