Heat the olive oil in a large pot over medium-high heat.
Add the chopped onion and garlic, and stir until the onion becomes translucent.
Add the ground beef and cook until browned, breaking it up with a spoon as it cooks.
Make sure the meat is fully browned for the best texture.
Sprinkle in the chili powder, cumin, cayenne pepper, and oregano.
Stir well to coat the beef evenly with the spices.
Add the tomatoes, beans, and bay leaf to the pot.
Stir the mixture, bring it to a boil, then reduce the heat and let it simmer.
Cover the pot and let simmer for about 45 minutes, stirring occasionally.
This helps all the flavors meld together beautifully.