Heat olive oil in a Dutch Oven or large skillet over medium heat. Add onion and garlic, sauté until onions are translucent. Add ground beef and cook until browned.
Stir in broth, tomatoes, beans and seasoning. Bring to slow boil; add macaroni, bring to boil and cover. Reduce heat, and simmer until macaroni is done, about 13 minutes. About 7 minutes after macaroni has been added, add Velveeta, stir until melted. Cover and continue cooking until macaroni is done. NOTE: Taste test in this step and add additional seasoning if desired.
Remove from heat; top with cheddar cheese and cover to melt cheese (about 1 minute). Serve