Preheat oven to 350 degrees F/180 degrees C. Grease and flour a 9 x 5-inch loaf pan.
Place the cream cheese, butter, and sugar in a food processor and process until smooth. It may be necessary to do this in 3 or 4 batches.
When smooth, beat in the eggs, buttermilk, and vanilla. Sift together the flour and baking powder and fold in, along with the chocolate chips.
Spoon into prepared pan and bake in preheated oven for 1 hour, or until a skewer inserted in the center comes out clean. Let cool for 5-10 minutes before turning out onto a wire rack to cool completely.
Serve dusted with confectioners' sugar.
Makes 10 servings.
Date: January 4, 2003