Deliciously tender beans, no soak required.
Set your Instant Pot to sauté, then add olive oil heat it until it shimmers. Add the onion and garlic, and cook while stirring occasionally until they turn translucent, around 5 minutes. Stir in the beans, chicken broth, and bay leaf.
Press cancel on the pot and put the lid down. Make sure the valve is set to seal. Press the beans/chili setting and set it to 30 minutes. Once the timer goes off, quick-release the pressure (check your pot's instruction manual if you don't know how). When the pressure is released, carefully open the lid. Garnish with cilantro if you like, and serve.