You are right, Collor wasn't a dictator.
But he did do some things right, like starting the process of opening Brazil's economy, which in the 80's was more closed than those of the communist bloc. I wouldn't ever think of supporting him, though.
All investments, CDs, savings accounts in excess of around U$1000 were "frozen".
It didn't affect the masses, who didn't have bank accounts anyway. But the middle-class was screwed.