Set a multi-cooker to the saute function. Add the lard or butter and melt. Add the garlic, onion, bell pepper and jalapeno. Cook until the vegetables are softened, about 3 minutes. Sprinkle over the chili powder, cumin and salt. Stir and cook for about a minute. Add the beans and pour in the broth.
Put on the lid and set the valve to sealing. Set to pressure cook on manual for 50 minutes.
Once the pressure-cook cycle is complete, allow the pressure to release naturally for 10 minutes, then release the rest of the steam using quick release.
Remove the lid and add the lime juice. Using an immersion blender, puree the soup until it is a good mix of smooth and textured. Taste and adjust the seasoning if needed. If the soup is too thick, add some additional broth to thin it.
Ladle into bowls and garnish with the red onion, cilantro, tomato, sour cream, avocado and lime wedges.