Veggies: Hit the saute setting on the instant pot and add a swish of oil. Add the onions and peppers and season them with a pinch of salt and let them cook for 5-6 minutes or until they soften. Add the garlic and stir to combine.

Pressure Cook: Add all the remaining ingredients to the instant pot, stir. Cover, make sure the vent is sealed. Cook on manual high pressure for 42-45 minutes. If using organic or older beans, I suggest 45 minutes. Once the timer goes off, allow a release pressure release for 10 minutes, then do a quick release. Stir the soup and test the beans for doneness, remove bay leaf. You can puree 1/2 the soup in the blender if you want it to be thicker. I usually just smash using a wooden spoon on walls of the pot until it reaches my desired consistency, season with additional salt to taste. If serving immediately, allow the soup to cool for 15 minutes as it'll thicken as it sits. Top with guac, pico de gallo, lime juice, chopped cilantro, and serve with tortilla chips!