Heat the olive oil in a large pot over medium heat. Add the diced onion and cook for 3 to 4 minutes until it softens.
Stir in the minced garlic, chili powder, and cumin. Cook for 1 minute until the spices smell fragrant.
Add the crumbled meatloaf and stir to coat it with the spices.
Pour in the diced tomatoes and beef broth. Bring the mixture to a simmer.
Add the drained kidney beans. Season with salt and pepper to taste.
Simmer uncovered for 15 minutes, stirring occasionally, until the chili thickens slightly.
Ladle into bowls and top with shredded cheddar cheese before serving.