Heat the oil in a large saute pan over medium-high heat.
Add the onion and cook until it begins to soften, about 3 minutes.
Add the garlic, cumin, salt, chile powder and cayenne and cook until fragrant, about 30 seconds.
Add the chiles, beans and broth and bring to a simmer.
Cook, stirring occasionally, until the beans have softened and the sauce has thickened, 5 to 7 minutes.
Transfer to a serving bowl and sprinkle with cilantro leaves and Cotija.
