How to find if Powershell Array Contains Object of Another Array

I have to arrays in Powershell. Each Array contains an array of objects. These objects have two properties:

Name: String
Id: GUID

The first Array has 4413 objects in it and the second has 4405. The counts are irrelevant, but I only mention them to note that the contents of Array1 and Array2 are different.

Here is my current code (pseudo):

#Fill Array1
$Array1 = Fill-Array1

#Fill Array2
$Array2 = Fill-Array2

#Loop through the arrays and write out the names of all items in Array2 that are different than Array1
ForEach($Val in $Array2)
{
    $Name = $Val.Name

    If($Array1 -notcontains $Val) //this does not work
    {
        Write-Host $Name
    }
}

What is the correct way to check for the existence of the object in Array1? Is my only option to do a nested loop?

Update, using the answer from Manu P below, the following is how I implemented the solution:

#Fill Array1
    $Array1 = Fill-Array1

    #Fill Array2
    $Array2 = Fill-Array2

    #Compare the arrays
    $ComparedResults = Compare-Object -ReferenceObject $Array1 -DifferenceObject $Array2 #I left out the -IncludeEqual param because I don't care about those results

    ForEach($Result in $ComparedResults)
    {
        If($Result.SideIndicator -eq "=>") #the value in Array2 is different than Array1
        {
            $Val = $Result.InputObject

            Write-Host $Val.Name            
        }        
    }