Preheat oven to 350°F. Grease and flour 1(1-pound) loaf pan.
In a large bowl, whisk together all the dry ingredients. Set aside.
In a medium bowl mix sugar, vegetable oil, egg, vanilla, and whole milk. Add flour mixture to the wet mixture and mix until well combined. Add chocolate chips and mix.
Pour mixture onto prepared pan and bake for 60 minutes or until toothpick inserted in the center of the bread comes out clean. Allow the bread to cool in the pan for 5 minutes and then carefully remove from pan; let the loaf of bread cool completely on a cooling rack.