Cook bacon over med-high heat for 3 minutes or until just beginning to brown. Add onions and garlic and cook until onion is tender.
Add beans, broth, cumin, and chili powder. Bring to a boil and reduce to a simmer for 30 minutes.
Spoon ½ of the mixture into a blender and process until smooth, but be careful when using a blender with really hot food. Keep the lid slightly cracked to release steam or you can end up with a soup explosion. (you could also blend half of it with an immersion bender) Return mixture to pan and combine with the other ½ of the soup. Mix well and serve. Serve this with sour cream, tortilla chips or strips and cheese if desired.