A cargo strap assembly constructed and arranged for receipt by a stake pocket of a vehicle wherein the vehicle includes a sidewall which further defines an opening in communication with the stake pocket. The cargo strap assembly includes a cargo strap module which is constructed and arranged to fit within the stake pocket, the cargo strap module including a retractable cargo strap having an extendable end which is constructed and arranged to extend through the sidewall opening of the vehicle. The cargo strap assembly is completed by the addition of a cover plate which is constructed and arranged to be positioned against the sidewall of the vehicle and attach directly to the cargo strap module for securing the cargo strap module within the stake pocket.