Turn the heat down to medium-low and add the garlic, chili powder, ½ tablespoon chopped chipotle peppers, cumin and cinnamon. Cook, stirring constantly, until fragrant, about 30 seconds. Add the bay leaf, black beans, tomatoes and their juices and broth. Stir to combine and cover for about 1 hour, stirring occasionally. Taste about halfway through cooking and add more chopped chipotle peppers if you'd like.
In a 4- to 6-quart Dutch oven or stockpot over medium heat, warm the olive oil until shimmering. Add the onion, bell pepper and butternut squash and cook, stirring occasionally, until the onions are turning translucent.