Bring a medium pot or Dutch oven full of water to a boil over high heat. Add corn and boil 3-5 minutes until corn is a bright yellow.
Transfer corn to a cutting board and allow to cool slightly. Remove corn from cobs and reserve 3 of the cobs. Set aside.
Heat vegetable oil in same pot you used to boil corn over medium-high heat. Add onion and pepper and sauté 3-4 minutes until tender. Add garlic and sauté 1 additional minute until fragrant.
Add corn kernels, 3 reserved corn cobs, chicken broth, potatoes, and bay leaf to pot. Bring soup to a simmer over medium-high heat, then reduce heat to medium-low, cover pot, and allow to simmer 15-20 minutes until potatoes are tender, stirring occasionally. Remove pot from heat and discard corn cobs and bay leaf.
Add milk and cream to chowder and stir well until combined. Transfer 1-1/2 cups chowder to a blender or food processor and blend until smooth. Add back to pot of chowder and stir well until combined.
Season chowder with salt and pepper to taste. Ladle into bowls and top with green onions. Serve hot with bread for dipping and enjoy!