In a medium or large soup pot, sauté the onion, bell pepper, and garlic in the 2 tablespoons of olive oil for 3 to 5 minutes, until the onions are soft. Stirring occasionally.
Next, add in the 1 can of undrained tomatoes, 1/4 cup of vegetable broth, and the 2 tablespoons of chili powder and stir.
Reduce heat to medium-low and add beans. Stir occasionally and cook for at least 30 minutes.
For a spicier chili, add extra cayenne pepper and red pepper flakes, if you'd like.