SIDE: Cook rice as directed on package.
In a large Dutch oven, heat the oil over medium high heat. Saute the chopped onion, red and green bell peppers for 4-5 minutes, or until onions become translucent.
Stir in the crushed tomatoes and drained red kidney beans.
Stir in the chili powder and salt.
Reduce heat to low and let simmer for 10 minutes.
Stir in the shredded cheese and let melt into the sauce.
Serve Monterrey Beans with Cheese over rice, with pinchful of shredded cheese as garnish. A side salad or steamed veggies is a great side dish option.