Heat the oil in a large Dutch oven over medium heat until it shimmers. Add the onions and bell peppers, stirring occasionally until they are softened and just starting to brown at the edges, 8 to 10 minutes.

Stir in the garlic, jalapeño, chili powder, cumin, and oregano. Cook until the spices are fragrant and the garlic is softened, about 1 minute—keep the mixture moving to prevent the spices from scorching.

Add the tomato paste. Cook, stirring constantly, for 2 minutes until the paste turns a deep rusty color and smells caramelized.

Add the beans, broth, and salt. Increase the heat to high and bring the liquid to a rolling boil.

Reduce the heat to low, cover the pot partially, and simmer gently. The beans should be creamy and tender, which usually takes 1 to 1 1/2 hours depending on their age; if using canned beans, simmer for 30 minutes to allow flavors to meld.

Smash a small portion of the beans against the side of the pot with a wooden spoon and stir them back in to thicken the liquid to a hearty consistency.

Remove from heat and stir in the lime juice and cilantro. Taste and adjust with extra salt or lime as needed, then serve hot with your favorite toppings.