Check out this sneak peek clip of “White Collar’s” newest episode, “Diminishing Returns.” Neal and Peter are back in New York, though Peter has been demoted and transferred out of the White Collar Crime division.

In “Diminishing Returns,” Neal and the team secretly help Peter investigate a brilliant thief who has eluded the FBI for years. In the above preview clip, Neal may have bitten off more than he can chew with the 20-year-old case.

How long do you figure until Peter’s back in the White Collar division? We hope it’s not too long. The latest episode airs Tuesday, July 24 at 9 p.m. ET/PT on USA, with guest stars Jim Rebhorn, Michael Weston, Judith Ivey, Brett Cullen and Laurie Williams.

Posted by:Andrea Reiher

TV critic by way of law school, Andrea Reiher enjoys everything from highbrow drama to clever comedy to the best reality TV has to offer. Her TV heroes include CJ Cregg, Spencer Hastings, Diane Lockhart, Juliet O'Hara and Buffy Summers. TV words to live by: "I'm a slayer, ask me how."