Architecture
A name check just became a priced control
The Fed's 2026 pricing notice introduces Payee Name Verification at two cents a transaction, starting on FedACH. It works by comparing a submitted payee name against names previously seen on that account. From an architect's view that is not a yes-or-no check - it is a new control point that reshapes routing, exceptions, and reconciliation.
Lead essay
The current Doric argument leads the index ahead of the chronological archive.
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