Chop onion and green bell pepper, set aside. Mince garlic and set aside.
Peel potatoes, dice into 1 inch cubes, and set aside.
Heat a large pot over medium and add olive oil. Add diced onion and bell pepper, and sauté for 7 minutes until onion is translucent. Add garlic and sauté for 1 minute. Add ground beef to the pot and cook for about minutes, breaking meat up into small pieces until everything is fully cooked.
Drain the meat mixture to remove the grease then add back to the pot. Add potatoes, tomato sauce, diced tomatoes with chilies, beef broth, salt, cumin, chili powder, Mexican oregano, and bay leaves, then stir.
Increase heat to high-medium to bring to a boil. Once pot has reached a boil, reduce heat to medium, cover, and let cook for 25 minutes. Remove lid, stir, reduce heat to medium-low and let simmer for another 15 minutes until potatoes are fork tender.
Remove and discard bay leaves before serving.