Heat oil in a large heavy-bottomed pot over medium-high.
Add beef and sausage; break up with a wooden spoon and brown about 10 minutes. Drain fat.
Cook onions and pepper about 6 minutes until soft.
Stir in garlic; cook 1 minute until fragrant.
Add chili powder, cumin, paprika, cayenne, salt, and pepper; stir constantly 1 minute.
Stir in tomato paste; cook 2 minutes, stirring frequently.
Stir in all three beans, tomatoes, and broth until combined.
Boil; reduce heat to low, partially cover, and simmer 2 hours, stirring every 20 minutes.
Remove from heat; stand 10 minutes to thicken before serving.