In a 6-quart Dutch oven, heat the oil over moderate heat for 1 minute. Add the bell pepper, onion, and garlic and saute for 5 minutes, or until the onion is translucent. Add the beans, tomatoes, stock, tomato juice, and corn. Stir in the chili powder and cumin.
Bring the soup to a boil over high heat. Reduce the heat to low and cook, uncovered, stirring occasionally, for 15 minutes.
Ladle soup into individual soup bowls and sprinkle each with some of the cheese. Serve immediately with tortilla chips or warm flour tortillas, if desired.